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(1 point) In the market for bananas, here are the demand and supply curves: DEMAND SUPPLY P Q P O $30 1 $1 1 $18

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(1 point) In the market for bananas, here are the demand and supply curves: DEMAND SUPPLY P Q P O $30 1 $1 1 $18 2 $5 2 $16 3 $7 3 $14 4 $9 4 $12 5 $12 5 $10 6 $14 6 $8 7 $18 7 Suppose the government imposes a price ceiling of $7 per banana. How much consumer surplus is lost due to the ceiling? 14 How much producer surplus is lost due to the ceiling? 18 What is the deadweight loss due to the ceiling? 25 How much of that deadweight loss is due to time spent waiting in line? 25

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