12P Qs = -400 + 20P a) Solve for the market equilibrium price and quantity. Illustrate your answer with a diagram of the market. B) What are the dollar values of consumer and producer surplus? C) Suppose the government imposes a price ceiling of $40. What is the quantity demanded and quantity supplied? What type of disequilibrium exists? Recalculate consumer and producer surplus. What is the deadweight loss? D) Suppose the demand curve shifts to Qd = 2500
12P Qs = -400 + 20P a) Solve for the market equilibrium price and quantity. Illustrate your answer with a diagram of the market. B) What are the
Looking for a Similar Assignment? Our Experts can help. Use the coupon code SAVE30 to get your first order at 30% off!
