3. Move the demand curve below to illustrate this shift. Be sure to take the exact...

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Question

3. Move the demand curve below to illustrate this shift. Be sure to take the exact size of the subsidy into account. Precise answers are required.

4. Move the government support line to illustrate a situation in which an individual will earn an income higher than the government support income if they work more than 2,000 hours.

Question 3 The figure below shows the market for driver education programs. The market demand curve for driver education refl

Price per education pr Market-Equilibrium (150,30)+ Social Equilibrium (150,36) D (MPB) .50 0 50 100 150 200 250 300 350 400

Question 4 The graph below shows the budget constraint between income and leisure for an individual. For every hour spent in

Income-($) | 35000|| TIL (0, 30 000) -E-300000 25000 20000 15000 10000 | -5000 Government Support ($3000) (2.500.0) -500 500

business economics

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Answer 1

Answer #1

Answer 3.

MSB=MPB+ External benefit.

External benefits= Subsidy= $20

So, shift the demand curve upwards by $20.

Note-According to HOMEWORKLIB RULES first question is answered

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Answer 2

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