Use the Figure Below to Answer the Following Question(s)

question 135

Multiple Choice

Use the figure below to answer the following question(s) .
Figure 4-12

-Refer to Figure 4-12.The supply curve S and the demand curve D₁ indicate initial conditions in the market for college textbooks.A new government program is implemented that grants students a $30 per textbook subsidy on every textbook they purchase,shifting the demand curve from D₁ to D₂.Which of the following is true for this subsidy given the information provided in the exhibit?

• A)Textbook buyers will receive an actual benefit of $10 from the subsidy,while textbook sellers will receive an actual benefit of $20 from the subsidy.
• B)Textbook buyers will receive an actual benefit of $20 from the subsidy,while textbook sellers will receive an actual benefit of $10 from the subsidy.
• C)Textbook buyers will receive the full $30 benefit from the subsidy.
• D)Textbook sellers will receive the full $30 benefit from the subsidy.

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Definitions:

Amphibians

A group of cold-blooded vertebrates characterized by their ability to live both in water and on land, undergoing metamorphosis from a larval stage to an adult.

Carboniferous

A geologic period and system that extends from the end of the Devonian Period, about 359.2 million years ago, to the beginning of the Permian Period, about 299 million years ago.

Reptiles

Cold-blooded vertebrates that breathe air, usually lay eggs, and have scales covering their bodies, including snakes, lizards, crocodiles, and turtles.

Chordates

Deuterostome animals that, at some time in their lives, have a cartilaginous, dorsal skeletal structure called a notochord; a dorsal, tubular nerve cord; pharyngeal slits; a postanal tail; and an endostyle (or its derivative, a thyroid gland).