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2. Assume a competitive market for good X with Q): = 250 w 4Pa and Q: --50 + ZP' a. What are the equilibrium price
2. Assume a competitive market for good X with Q\"): = 250 w 4Pa and Q: --50 + ZP' a. What are the equilibrium price and quantity in the market for good X? What is the value of consumer surplus, producer surplus, and economic surplus at the equilibrium? With the price ceiling of $30 per unit, what will be the value of consumer surplus, producer surplus, economic surplus, and deadweight loss
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