Answer to Question #59628 in Microeconomics for ali

Question #59628

Military Draft. Determine the transfer. ($millions)
D: Q = 850
S: P = 200 + 4Q
Draft: P = 50

Expert's answer

Military Draft.
D: Q = 850,
S: P = 200 + 4Q.
The equilibrium price P = 200 + 4*850 = $3,600.
If the amount of draft is 50, then the transfer is 50*3,600 = $180,000.

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