The government imposes a restriction on firms that shifts the supply curve in Figure 9.3 so that
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The government imposes a restriction on firms that shifts the supply curve in Figure 9.3 so that it intersects the demand curve at e2. Discuss the effects on CS, PS, welfare, and DWL.
Figure 9.3 Why Reducing Output from the Competitive Level Lowers Welfare
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Related Book For 
Microeconomics Theory and Applications with Calculus
ISBN: 978-0133019933
3rd edition
Authors: Jeffrey M. Perloff
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