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

question 60

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, consumers pay price ____ and after the subsidy, consumers pay price ____.

• 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:

Capability-specific Belief

An individual's confidence in their ability to perform tasks or activities related to a specific domain or skill set.

Punishment

The imposition of a penalty as retribution for an offense or undesirable behavior.

Reinforcement

A process in psychology and behavior analysis that strengthens a behavior or response due to the application of a stimulus (reward or punishment) after the behavior occurs.

Unpleasant Consequence

An undesirable result or effect that follows a particular action or decision.