12 Jul SUPPOSE THE GRAPH BELOW SHOWS THE MARKET FOR KEROSENE IN INDONESIA.
Please see attachment, Thanks. – We can examine the effects of a subsidy with a simple supply and demand model. Document Preview: We can examine the effects of a subsidy with a simple supply and demand model. Suppose the graph below shows the market for kerosene in Indonesia. The line labeled S1 represents the supply of kerosene in the absence of government subsidies. The line labeled S2 represents the supply of kerosene when the government provides a subsidy to kerosene suppliers. In this case, the government provides kerosene suppliers with a subsidy of 20 cents per liter. The subsidy shifts the supply curve downward by 20 cents, from S1 to S2. With the government subsidy, kerosene suppliers are willing to sell a greater quantity of kerosene at any given price. The amount of government subsidy per liter of kerosene is represented by the line segment: A. EM B. EF C. MF We can examine the effects of a subsidy with a simple supply and demand model. Suppose the graph below shows the market for kerosene in Indonesia. The line labeled S1 represents the supply of kerosene in the absence of government subsidies. The line labeled S2 represents the supply of kerosene when the government provides a subsidy to kerosene suppliers. In this case, the government provides kerosene suppliers with a subsidy of 20 cents per liter. The subsidy shifts the supply curve downward by 20 cents, from S1 to S2. With the government subsidy, kerosene suppliers are willing to sell a greater quantity of kerosene at any given price. The amount of government subsidy per liter of kerosene is represented by the line segment: A. EM B. EF C. MF Attachments: 37875-Economi….doc
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