The government decides to subsidize consumers of gym memberships to encourage people to exercise. The market without the subsidy is shown in the figure. (a) Equilibrium price is $ [Select] without a subsidy. (b) Equilibrium quantity is [Select] (c) If the government gives $60 to consumers buying gym memberships, the quantity changes to [Select] units. (d) Consumer's price is now $ [Select] (e) Consumer's economic benefit is $ [Select] (f) Producer's price is now $ [Select] (g) Producer's economic benefit is $ [Select] units without a subsidy.
The government decides to subsidize consumers of gym memberships to encourage people to exercise. The market without the subsidy is shown in the figure. (a) Equilibrium price is $ [Select] without a subsidy. (b) Equilibrium quantity is [Select] (c) If the government gives $60 to consumers buying gym memberships, the quantity changes to [Select] units. (d) Consumer's price is now $ [Select] (e) Consumer's economic benefit is $ [Select] (f) Producer's price is now $ [Select] (g) Producer's economic benefit is $ [Select] units without a subsidy.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Solve all this question .....you will not solve all questions then I will give you down upvote
![The government decides to subsidize consumers of gym memberships to encourage people to
exercise. The market without the subsidy is shown in the figure.
(a) Equilibrium price is $ [Select]
without a subsidy.
(b) Equilibrium quantity is [Select]
(c) If the government gives $60 to consumers buying gym memberships, the quantity changes to
[Select]
units.
(d) Consumer's price is now $ [Select]
(e) Consumer's economic benefit is $ [Select]
(f) Producer's price is now $ [Select]
(g) Producer's economic benefit is $ [Select]
units without a subsidy.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa67c7aad-499f-45a8-89ff-0c20267be859%2F621a0287-d1c2-40fa-92eb-9866d38d40c4%2Fsnj80a7_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The government decides to subsidize consumers of gym memberships to encourage people to
exercise. The market without the subsidy is shown in the figure.
(a) Equilibrium price is $ [Select]
without a subsidy.
(b) Equilibrium quantity is [Select]
(c) If the government gives $60 to consumers buying gym memberships, the quantity changes to
[Select]
units.
(d) Consumer's price is now $ [Select]
(e) Consumer's economic benefit is $ [Select]
(f) Producer's price is now $ [Select]
(g) Producer's economic benefit is $ [Select]
units without a subsidy.
Transcribed Image Text:200
P
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60
40
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0
20 40
60
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100 120
140 160
180 200
Q
220
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