Asked by
Angela Welshans
on Nov 25, 2024Verified
If the government subsidizes the car makers in the production of cars, then the supply of steel increases.
Subsidizes
Financial aid supplied by the government to an industry or business so that the price of a commodity or service may remain low or competitive.
Steel
A hard, strong alloy made primarily of iron and carbon, used extensively in construction and manufacturing.
- Recognize the repercussions of state interventions, such as price ceilings or subsidies, on the equilibrium of supply and demand in the marketplace.
Verified Answer
JR
Learning Objectives
- Recognize the repercussions of state interventions, such as price ceilings or subsidies, on the equilibrium of supply and demand in the marketplace.
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