The U.S. federal government has spent about $30 billion in direct subsidies and loans over the last ten years to promote the use of solar power. Unfortunately, most of these solar firms are losing money and/or they have gone bankrupt (Solyndra - Fremont, CA). The firms in China are capturing a large share of the solar market because they are producing solar panels far cheaper vs. the U.S. - What major error(s) did the U.S. federal government make? Multiple Choice O They did not properly calculate the price elasticity for solar cells. O They did not properly calculate the income elasticity for solar cells. O They did not properly research the cross-price elasticity for solar cells. O All of the responses above are correct 'and' this should serve as an example of what types of market disasters can happen when we don't pay attention to basic economics