Question
1.Find and graph the consumer surplus, producer surplus and total welfare: Demand is P= 15 - 2Q Supply is P = 1/2Q 2.Graph and measure
1.Find and graph the consumer surplus, producer surplus and total welfare:
Demand is P= 15 - 2Q
Supply is P = 1/2Q
2.Graph and measure Deadweight loss when there is a price ceiling of P = $6.
Demand is P = 18 - Q
Supply is P = 3 + 2Q
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Agricultural Economics
Authors: Evan Drummond, John Goodwin
3rd edition
136071929, 978-0136071921
