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please answer Bl. In a closed economy. these are the demand and supply curves in the perfectly competitive apples market QD=9-1/4P: Qs=2P a) What is

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Bl. In a closed economy. these are the demand and supply curves in the perfectly competitive apples market QD=9-1/4P: Qs=2P a) What is the welfare effect of a $2.25 subsidy on apples producers? Explain by how much consumer surplus. producer surplus and total surplus change. Who benets most from the subsidy? [6 marks] b) Instead of calculating new CS and T5. are there other ways to understand who would get most of the subsidy gains? [2 marks] (2) If the subsidy was given to consumers instead of producers, who would benets most from it? Why? [2 marks]

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