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Suppose the market for wheat can be described by the following equations: Demands: Qd= 3494-266P Supply: Qs= 1697 + 232P Where P is the price

Suppose the market for wheat can be described by the following equations:

Demands: Qd= 3494-266P

Supply: Qs= 1697 + 232P

Where P is the price of wheat in dollars per bushel and Q the quantity in million of bushels.

Suppose the government granst a subsidy of 1,41$ per bushel to the what producers. What will the total cost to the government?

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