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The City of New York has noticed the quality of photos taken by Spider-Man. In an effort to showcase the web-slinger's ability to clean up
The City of New York has noticed the quality of photos taken by Spider-Man. In an effort to showcase the web-slinger's ability to clean up crime, New York has decided tosubsidizethe photos. New York subsidizes the photo by $39/photo.
Which of the following would be thecorrect equationaffected by this subsidy? (Choose the correct equation)
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Snew=Q+50
Dnew=2Q+116
Snew=Q28
Dnew = -2Q+38
Find the new equilibirum price, P*new, after the subsidy
and
Find the new equilibrium quantuty, Q*new, after the subsidy
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