Suppose a $5 Subsidy to Buyers Is Imposed on the Market

question 24

Multiple Choice

Suppose a $5 subsidy to buyers is imposed on the market in the graph shown. After the subsidy is in place, the post-subsidy price paid by buyers is _______ and the post-subsidy price received by sellers is _______.

• A) $6; $11
• B) $13; $8
• C) $11; $6
• D) $3; $8

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Definitions:

First to File

A principle where the right to a patent for an invention goes to the first person to file a patent application for protection of that invention, regardless of the actual date of invention.

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A principle whereby the rights to a patent for an invention are determined by being the first person to have made the invention.

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