Suppose the retail market for electricity in a region is in equilibrium at a price of $0.12 per kilowatt hour (kwh). A kilowatt is 1000 watts, which is a measure of energy usage. Suppose that the marginal private cost of producing electricity is also $0.12/kwh. The amount of energy produced and consumed is 1000 kwh. The government uses some of its tax revenue to pay electric companies to reduce the price of energy to $0.10. Assume that each 1% decrease in the price of electricity causes the quantity demanded to rise by 0.7% and that demand is linear. (1%) What is your prediction of the quantity demanded after the electricity subsidy