Post Utme Ksu 2025 Economics Question 8

The government of Nigeria is considering a policy to increase the production of agricultural products. The policy involves providing subsidies to farmers who produce maize and soybeans. The demand for maize is given by the equation Qd = 100 - 2P, where Qd is the quantity demanded and P is the price. The supply of maize is given by the equation Qs = 2P - 100, where Qs is the quantity supplied. If the government provides a subsidy of ₦50 per unit of maize produced, find the new equilibrium price and quantity.