The Supply and Demand for Solar Panels Are Given by Q^S

question 108

Multiple Choice

The supply and demand for solar panels are given by Q^S = 5P - 5,000 and Q^D = 15,000 - 5P, where P is price per solar panel and Q measures the quantity of solar panels. Suppose the government provides a $500 subsidy per solar panel. Before the subsidy, producers receive ____ and after the subsidy, producers receive ____.

• A) $2,000; $1,750
• B) $2,000; $2,250
• C) $2,250; $2,000
• D) $1,750; $2,250

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Definitions:

Drowsy

A feeling of being sleepily tired and lethargic, not fully awake, often as a prelude to falling asleep.

Random Assignment

The process of selecting participants for experimental and control groups by using a chance procedure to guarantee that each participant has an equal probability of being assigned to any of the groups; a control for selection bias.

Participant

An individual who takes part in a study or experiment, providing data for researchers to analyze.

Equal Chance

The principle that each participant or subject in a study has an equal probability of being chosen for any given condition or treatment.