Question: Consider the market for flowers. Inverse demand is P = 50 QD and inverse supply is P = 10 + Q5. Out of a

Consider the market for flowers. Inverse demand is P = 50 — QD and inverse supply is P = 10 + Q5. Out of a concern for the well-being of flower growers, thegovernment implements a price floor of p = 40.

Graph the market for flowerswith the floor, labeling the equilibrium pflce and quantity as well as the actual quantity. Shade and label consumer surplus, producer surplus, and deadweight loss.

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