(Figure: Market for Child Care) The figure shows the market for child care. The original equilibrium price is $10,000. A subsidy is now introduced for parents who pay for child care. After the subsidy is implemented, the amount that sellers receive is$: A graph has quantity of children in childcare along the horizontal axis and price of childcare (per child) in dollars along the vertical axis.The horizontal axis has values of 5,000 and 6,000 along the middle of it, and the vertical axis has values of 9,000, 10,000, and 11,000 dollars from bottom to top along it. A negative Old demand curve starts above 11,000 dollars along the vertical axis, and slopes toward the bottom-right portion of the first quadrant. Another negative curve labeled New demand starts above the starting point of Old demand on the vertical axis and ends above and to the right of the Old demand curve. A positive Supply curve starts a little above the origin on the vertical axis and ends at the top-right portion of the first quadrant after intersecting the Old demand curve at (5,000, 10,000) and the New demand curve at (6,000, 11,000). The point (6,000, 9,000) is marked on the Old demand curve. Dotted lines from the points (5,000, 10,000), (6,000, 11,000), and (6,000, 9,000) meet their respective coordinates on the horizontal and vertical axes. Note that the data presented are all approximate. Question 7Answer a. 2,000. b. 11,000. c. 9,000. d. 1,000.
