4. Consider the following supply and demand equations: Supply: p = 10 + (1 Demand: p : 100 2g Show your work as your respond to the following questions. (a) What is the market equilibrium price and quantity? ( 5 % ) (b) What is the Total Surplus at equilibrium? ( 5 % ) (c) The government enacts a price ceiling at f) = 50. What is the Total Surplus? l

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