3.

Consider the perfectly competitive market for smoothies in Anteaterville. The supply of smoothies is given by Q = 200p and demand for smoothies is given by Q = 1200 - 100p, where in each case Q is the quantity (measured in number of smoothies) and p is the price (measured in dollars). The equilibrium quantity in this market is smoothies. The equilibrium price in this market is $ per smoothie. (Please enter only numbers in the boxes, and round to the nearest whole number if necessary.) Consider again the perfectly competitive market for smoothies described in the previous question. At the competitive equilibrium you derived in previous question (and assuming there are no market failures in the smoothie market), the producer surplus in the smoothie market is $ , the consumer surplus is $ , the total surplus is $ , and the deadweight loss is $ . (Please enter only numbers in the boxes, and round to the nearest whole number if necessary.) Consider again the perfectly competitive market for smoothies described in the previous questions. The mayor of Anteaterville loves smoothies, but feels they are too expensive. She decides to cap the price of each smoothie at $3. At a price of $3 per smoothie, producers will be willing to supply smoothies. Given the new price and the quantity supplied in the smoothie market, the producer surplus is $ , the consumer surplus is $ , the total surplus is $ , and the deadweight loss is $ . (Please enter only numbers in the boxes, and round to the nearest whole number if necessary.) The $3 per smoothie price cap in the previous question redistributed surplus from [ Select ] to [ Select ] . At the same time, the price cap consumers producers the government total surplus and [ Select ] deadweight loss.The $3 per smoothie price cap in the previous question redistributed surplus from [Select] V to [Select] V .At the same time, the price cap [Select] V total surplus an. V [39'9\"] deadweight loss. increased decreased may have increased or decreased did not change