50 70 80 100 110 120 130 = -2x +450 = 100 + 5x 450 350 330 310 290 270 250 230 210 190 100 350 400 450 500 550 600 650 700 750 = 30 + 5x 30 280 330 380 430 480 530 580 630 680 y = -2x +450 1. Simultaneous equations y= 100 + 5x 840 800 y = 30 + 5x 760 720 680 640 600 560 520 480 440 y 400
50 70 80 100 110 120 130 = -2x +450 = 100 + 5x 450 350 330 310 290 270 250 230 210 190 100 350 400 450 500 550 600 650 700 750 = 30 + 5x 30 280 330 380 430 480 530 580 630 680 y = -2x +450 1. Simultaneous equations y= 100 + 5x 840 800 y = 30 + 5x 760 720 680 640 600 560 520 480 440 y 400
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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1- Use the framework of demand and supply curves as described in picture to analyze the effects of subsidy on producers and consumers.
- Who benefits more from subsidy and analyze different situations with respect to different elasticities.
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