Multiple Choice
The supply and demand for solar panels are given by QS = 5P - 5,000 and QD = 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
Correct Answer:
Verified
Correct Answer:
Verified
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