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2. Consider the market for some product X that is represented in the accompanying demand-and-supply diagram. 2. Calculate the consumer surplus producer surplus, and total

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2. Consider the market for some product X that is represented in the accompanying demand-and-supply diagram. 2. Calculate the consumer surplus producer surplus, and total surplus in this market at the free-market equilibrium price and quantity b. Calculate the total economic surplus in this market when a 500+ price ceiling at $35 is in effect. After imposition of the price ceiling at $35, how many units of this good are no longer being produced and consumed per day compared to the free-market equilibrium? & Calculate the deadweight loss that results from the imposition of the price ceiling at $35 e Calculate the consumer surplus producer surplus, and total surplus in this market when a price floor at $55 is in effect Calculate the deadweight loss that results from the imposition of the price floor at 555 P3 35.00 500

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