Suppose the domestic demand for turnips is P = 100 - Q. The domestic supply of turnips is P = 10 + Q. The world price is $30 per unit. If the domestic suppliers get $10 per unit of subsidy, then the total import subsidies will be:
A) $300.
B) $400.
C) $500.
D) $600.
Correct Answer:
Verified
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