Question
A market is characterized by the following functions: Demand: P = 198 - 0.08Q Supply: P = 24 + 0.12Q Suppose the government imposes a
A market is characterized by the following functions:
Demand: P = 198 - 0.08Q
Supply: P = 24 + 0.12Q
Suppose the government imposes a quota at Q = 640.
Calculate the deadweight loss.
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Microeconomics
Authors: Austan Goolsbee, Steven Levitt, Chad Syverson
2nd edition
1464187029, 978-1464189104, 1464189102, 978-0716759751, 716759756, 978-1464187025
