In the market for apples, inverse demand is P = 80 3QD and inverse supply isP
Question:
In the market for apples, inverse demand is P = 80 — 3QD and inverse supply isP = 20 + Q5. However, due to a quota on the production of apples, the actual number of apples produced is 20.
Graph this market, labeling all relevant values, and shade deadweight loss.
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