The world’s Largest Sharp Brain Virtual Experts Marketplace Just a click Away
Levels Tought:
Elementary,Middle School,High School,College,University,PHD
| Teaching Since: | May 2017 |
| Last Sign in: | 398 Weeks Ago, 2 Days Ago |
| Questions Answered: | 66690 |
| Tutorials Posted: | 66688 |
MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016

1) $12, $3, $9 or $6?
2) $12, $3, $9 or $6?
3) $120 million, $480 million, $240 million or $360 million?
12. Understanding subsidies Suppose that in an attempt to protect its domestic clothing industry, New Zealand's government subsidizes the production or consumption of domestically produced clothes by giving each citizen a subsidy card. Each time citizens buy domestically made clothes, they swipe their cards and receive discounts of $6 off the price of a unit of clothes. 0 The following graph represents the market for domestically made clothes in New Zealand without any subsidy. Adjust the graph to show the effect of the $6 subsidy. 16 T Supply Demand 14 12t Supply O 10 4 0 6 12 18 24 30 36 42 48 54 60 QUANTITY (Millions of units of clothes per year) After the subsidy, the price producers receive is , and the price paid by consumers is . This subsidy program costs New Zealand's government
Hel-----------lo -----------Sir-----------/Ma-----------dam-----------Tha-----------nk -----------You----------- fo-----------r u-----------sin-----------g o-----------ur -----------web-----------sit-----------e a-----------nd -----------acq-----------uis-----------iti-----------on -----------of -----------my -----------pos-----------ted----------- so-----------lut-----------ion-----------.Pl-----------eas-----------e p-----------ing----------- me----------- on-----------cha-----------t I----------- am----------- on-----------lin-----------e o-----------r i-----------nbo-----------x m-----------e a----------- me-----------ssa-----------ge -----------I w-----------ill----------- be-----------