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4.- The market for hockey sticks is characterized by: Qd = 1600 - 20p Q's = 30p - 900b) (2 Points) Due to the high
4.- The market for hockey sticks is characterized by: Qd = 1600 - 20p Q's = 30p - 900b) (2 Points) Due to the high price of hockey sticks, the government decides to set a maximum price of $35. Mathematically derive the new p* and Q'\". c) (2 Points) What is the change in the producer surplus as a result of the new maximum price? Please support your answer with a graph. c1) (2 Points) What is the revenue change for the producers in this market? Please support your answer with a graph. e) (2 Points) Mathematically derive the deadweight loss due to the maximum price imposed. Please support your answer with a graph
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