The new equilibrium price will be between

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The following data show the supply and demand schedules for a product. Price per Quantity : 40, 50, 60, 70, 80, 90, 100 demanded Quantity per week(unis): 100, 50, 48, 45, 40, 30, 25 supplied unit per week (units)$ : 15, 20, 25, 30, 40, 46, 50 ] Refer to the above data. The government now introduces a subsidy payment to producers of $30 per unit. Assuming a purely competitive market for the product, the new equilibrium price will be between: A) $40-$50. B) $50-$60. C) $60-$70. D) $70-$80.

Reference no: EM131092543

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