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10. Consider a market where supply and demand are given by Q = -14 + P, and 6 = 85 2P. Suppose the government imposes
10. Consider a market where supply and demand are given by Q = -14 + P, and 6 = 85 2P. Suppose the government imposes a price floor of $38 and agrees to purchase and discard any and all units consumers do not buy at the floor price of $38 per unit. 103, 104, LOS) a. Determine the cost to the government of buying firms unsold units. b. Compute the lost social welfare (deadweight loss) that stems from the $38 price floor
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