Please answer the following. One to two paragraphs should be sufficient, and a diagram should help to support your answer.
With consideration for elasticity (especially PED), what would be one industry in which the government instituting a subsidy would make sense and why? (e.g. it would make sense for the government to subsidize the fashion industry because it is generally elastic in terms of PED, and it would benefit both producers and consumers due to..).
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