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Text Exercise 5.4 Question Help Suppose that the demand curve for wheat is Q =300 - 10p and that the supply curve is Q= 10p.

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Text Exercise 5.4 Question Help Suppose that the demand curve for wheat is Q =300 - 10p and that the supply curve is Q= 10p. What are the effects of a subsidy (negative tax) of s = 4 per unit paid to producers on the equilibrium, government subsidy cost, consumer surplus (CS), producer surplus (PS), welfare (W), and deadweight loss (DWL)? With the subsidy, the equilibrium price is $ 13 and the equilibrium quantity is 170 units. (Enter your responses as whole numbers.) The cost of the subsidy to the government is $ 680 . (Enter your response as a whole number.) The change in consumer surplus (ACS) is $ 320 . (Enter your response as a whole number.) The change in producer surplus (APS) is $ 320 . (Enter your response as a whole number.) The change in welfare (AW) is $ - 40 . (Enter your response as a whole number and include a minus sign if necessary.) Deadweight loss is $ 20 . (Enter your response as a whole number.)

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