Question

A $5 subsidy was added by the government

Q = 3P - 5

P = 26.25

Quantity Exchanged = Quantity Supplied = 3($26.25) - $5 = 72.5

How did you get 72.5?

Answer 1

To find the quantity exchanged, substitute the given value of P into the equation Q = 3P - 5. The correct calculation should yield 73.75 as the quantity exchanged.

Step-by-step explanation:

To find the quantity exchanged, we can substitute the given value of P into the equation Q = 3P - 5. Plugging in P = 26.25, we get Q = 3(26.25) - 5 = 78.75 - 5 = 73.75.

However, it seems there may have been a calculation error resulting in 72.5 in the original question. It should be noted that an accurate calculation should yield 73.75 as the quantity exchanged.