30) The figure above shows that the government provides a subsidy to the farmers of ________ million.
A) $350
B) $1,050
C) $50
D) $100
E) $700
The support price is P = 35 where quantity demanded = 20 and quantity supplied = 30
excess supply = 30-20 = 10 million
subsidy = 10*35 = 350 illion
option(A)
30) The figure above shows that the government provides a subsidy to the farmers of ________...
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