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Economics explained


microeconomic policies



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A subsidy is a financial assistance provided by a government to reduce the costs of production for firms.


This may be done for many reasons including:

to keep down the market prices of essential goods

to encourage greater consumption of merit goods

to contribute to a more equitable distribution of income

When paid to a producer, a subsidy has the opposite effect of an indirect tax – it is the equivalent of a fall in costs for the producer and results in a rightward shift in the market supply curve.

Introducing a subsidy in the market results in

a rightward shift in the market supply curve from S to S1

a fall in price from P to P1

an increase in the quantity traded from Q to Q1

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