9.*The government of Islandia, a small island nation, imports heating oil at a price of $2 per...

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9.*The government of Islandia, a small island nation, imports heating oil at a price of $2 per gallon and makes it available to citizens at a price of $1 per gallon. If Islandians’ demand curve for heating oil is given by P 6 Q, where P is the price per gallon in dollars and Q is the quantity in millions of gallons per year, how much economic surplus is lost as a result of the government’s policy? LO2

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