Consider a Perfectly Competitive Market with Inverse Market Supply $P = 5 + 3 Q ^ { s }$

question 50

Multiple Choice

Consider a perfectly competitive market with inverse market supply $P = 5 + 3 Q ^ { s }$ and inverse market demand $P = 50 - 2 Q ^ { d }$ . Suppose the government subsidizes this market with a subsidy of $5 per unit. What is the increase in consumer surplus resulting from the subsidy?

• A) 17
• B) 19
• C) 21
• D) 23

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Definitions:

Delayed Deliveries

Instances when products, messages, or goods are not delivered within the expected or promised time frame.

Omnibus Motion

A motion that allows a group to vote on several related items in a single vote. Saves time in formal meetings with long agendas.

Parliamentary Procedures

A set of rules and guidelines used to conduct meetings and make decisions in a democratic and orderly fashion.

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The practice of multiple individuals working together to produce a single document or piece of text.