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Consumer surplus of ev customers change

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Subsidies

Consider the following depiction of the market for electric vehicles (EVs) in California, suggesting that 20,000 EVs will be sold at a price of $40,000. Suppose now that Governor Newsom now offers a subsidy of $20,000 for each customer purchasing an EV in California.

How much does the consumer surplus of EV customers change following the subsidy?

Reference no: EM133240962

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