Suppose the government grants every college student a subsidy (the opposite of a tax) of $50 for every textbook purchased. How will that policy affect the (average) equilibrium price and quantity of textbooks? (Assume demand and supply curves of the typical shapes). The equilibrium price and quantity of textbooks will rise. The equilibrium price of textbooks will rise and the equilibrium quantity will fall. The equilibrium price and quantity of textbooks will fall. The equilibrium price of textbooks will fall and the equilibrium quantity will rise.