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Answer with Explanation:
a. Cost Per Person of Corn Subsidies in United States can be obtained by simply dividing the total value of subsidies with the population of US.
[tex]Cost\;per\;person\;=\;\frac{Total\;Value\;of\;subsidies}{Population\;of\;US}\\\\\\Cost\;per\;person\;=\;\frac{3\;billion}{300\;million}\\\\\\Cost\;per\;person\;=\;\frac{3,000,000,000}{300,000,000}\\\\\\Cost\;per\;person\;=\;\$10[/tex]
b. First, let us calculate the number of people "N" that are will be funding the anti-subsidy advocates.
[tex]N\;=\; 10\%\;*\;Population\;of\;US\\\\N\;=\;0.1\;*300,000,000\\\\N\;=\;30,000,000[/tex]
As each of the individual will only be paying $0.50 to support the anti-subsidy advocates, therefore, total funding will be,
[tex]Anti-subsidy\;Funding\;=\;N\;*\;0.5\\\\Anti-subsidy\;Funding\;=\;30,000,000\;*\;0.5\\\\Anti-subsidy\;Funding\;=\;\$15,000,000[/tex]
c. To calculate the donation amount we can simply multiply the total value of subsidies with the proportion of donation (1%)
[tex]Donations\;of\;Subsidy \;Supporters\;=\;1\%\;*\;Total\;Values\;of\;Subsidies\\\\Donations\;of\;Subsidy \;Supporters\;=\;0.01\;*\;3,000,000,000\\\\Donations\;of\;Subsidy \;Supporters\;=\;\$30,000,000[/tex]
d. Difference between the Donations of Supporters and the Funding of Anti-advocates will be
[tex]Difference\;=\;Donations\;of\;Subsidy \;Supporters\;-\;Anti-subsidy\;Funding\\\\Difference\;=\;\$30,000,000\;-\;\$15,000,000\\\\Difference\;=\;\$15,000,000[/tex]
Subsidy cost per person is $10 per person
Given that;
Subsidies = $3 billion
Number of people = 300 million
Each person support = $0.5
Contribution = 1%
Computation:
Subsidy cost per person = $3 billion / $300 million
Subsidy cost per person = $10 per person
Amount raised = 300 million × $0.5 × 10%
Amount raised = $15 million
Amount of contribution = $3 billion × 1%
Amount of contribution = $30 million
Amount excess = 30 million - 15 million
Amount excess = 15 million
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