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4. The market for jackets has supply and demand curves given respectively by p=10 qs and p=100 - 2qd. What is the total economic surplus

4. The market for jackets has supply and demand curves given respectively by p=10 qs and p=100 - 2qd. What is the total economic surplus in this market? Suppose now to protect textile industry, the government imposes a price floor at $60 (cannot sell for less than $60). Calculate new consumer surplus and new producer surplus. What is the total surplus? How big is the loss in total surplus? If the government imposes an excise tax of $9 on the producers, what will be the new equilibrium price and quantity

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