{"id":102203,"date":"2021-02-07T10:51:49","date_gmt":"2021-02-07T10:51:49","guid":{"rendered":"https:\/\/essayparlour.com\/paperhelp\/?p=102203"},"modified":"2021-02-07T10:51:49","modified_gmt":"2021-02-07T10:51:49","slug":"order-the-answer-to-in-a-competitive-market-the-industry-demand-and-supply-curves-are","status":"publish","type":"post","link":"https:\/\/essayparlour.com\/paperhelp\/business-economics-2\/order-the-answer-to-in-a-competitive-market-the-industry-demand-and-supply-curves-are\/","title":{"rendered":"Order the answer to: In a competitive market, the industry demand and supply curves are"},"content":{"rendered":"<table style = 'table-striped table-bordered table-hover' responsive='true'>\n<tr>\n<th>Question<\/th>\n<td>In a competitive market, the industry demand and supply curves are P = 70 &#8211; QD and P = 40 + 2QS, respectively. a. Find the market\u2019s equilibrium price and output. b. Suppose that the government provides a subsidy to producers of $15 per unit of the good. Since the subsidy reduces each supplier\u2019s marginal cost by 15, the new supply curve is P = 25 + 2QS. Find the market\u2019s new equilibrium price and output. Provide an explanation for the change in price and quantity. c. A public-interest group supports the subsidy, arguing that it s consumers and producers alike. Economists oppose the subsidy, declaring that it leads to an inefficient level of output. In your opinion, which side is correct? Explain carefully.<\/td>\n<\/tr>\n<tr>\n<th>Subject<\/th>\n<td>business-economics<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Question<br \/>\nIn a competitive market, the industry demand and supply curves are P = 70 &#8211; QD and P = 40 + 2QS, respectively. a. Find the market\u2019s equilibrium price and output. b. Suppose that the government provides a subsidy to producers of <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[42],"tags":[],"class_list":["post-102203","post","type-post","status-publish","format-standard","hentry","category-business-economics-2"],"_links":{"self":[{"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/posts\/102203","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/comments?post=102203"}],"version-history":[{"count":1,"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/posts\/102203\/revisions"}],"predecessor-version":[{"id":102204,"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/posts\/102203\/revisions\/102204"}],"wp:attachment":[{"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/media?parent=102203"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/categories?post=102203"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/essayparlour.com\/paperhelp\/wp-json\/wp\/v2\/tags?post=102203"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}