Math Problem Statement
The demand function is P = 15-Q and the supply function is P = 3 + 1/2Q. Then the government sets a subsidy of Rp1.5 per unit, then determine and describe the equilibrium before and after the subsidy!
Solution
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Math Problem Analysis
Mathematical Concepts
Equilibrium
Subsidy
Linear Equations
Formulas
Equilibrium: Demand = Supply
Demand function: P = 15 - Q
Supply function: P = 3 + 1/2Q
Effective Supply with Subsidy: P + Subsidy = Supply
Theorems
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Suitable Grade Level
Grades 10-12
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