The Demand and Supply of Ethanol Are Given by Q^D

question 65

Multiple Choice

The demand and supply of ethanol are given by Q^D = 8,000 - 2,000P and Q^S = 1,000P - 1,000, where P is price per gallon and Q measures gallons per minute. What does it cost the government to subsidize ethanol at $0.30 a gallon?

• A) $660 per minute
• B) $14,000 per minute
• C) $150 per minute
• D) $2,000 per minute

---

Definitions:

Cultural Competency

The ability of individuals and organizations to effectively deliver healthcare services that meet the social, cultural, and linguistic needs of patients.

Working Class

A social group that primarily does manual labor for wages, often referring to those in industrial work.

Medical Students

Individuals engaged in a program of study leading to a degree in medicine with the goal of becoming medical professionals.

Political Power

The capacity to influence or control the policies and actions of a government, organization, or individuals.