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The supply of and demand for solar panels are given by QS = 5 P - 5,000 and QD = 15,000 - 5 P ,
The supply of and demand for solar panels are given byQS= 5P- 5,000 andQD= 15,000 - 5P, respectively, wherePis price per solar panel, andQis the quantity of solar panels. Suppose the government provides a $500 subsidy per solar panel. Before the subsidy, consumers pay a price of ____, and after the subsidy, consumers pay a price of ____.
$1,750; $2,250
$2,250; $2,000
$2,000; $1,750
$2,000; $2,250
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