Chapter 10: In the small open economy of Gatorland, the domestic demand for widgets is given by P=100-3Q; the domestic supply of widgets is given by P = Q. The world price is $40. Now let the government of Gatorland give a $15 per unit subsidy on each widget exported. What will be the new price and quantity consumed in the domestic market? $25 and 25 units. O $55 and 15 units. $40 and 15 units. $20 and 60 units

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