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Assume a perfectly competitive market without externalities. Market Demand is given by P = 15 1 2 Q and Market Supply is given by P
Assume a perfectly competitive market without externalities. Market Demand is given by P = 15 1 2 Q and Market Supply is given by P = 1 5 Q + 2. If the government imposes a maximum price of P=3, what is the minimum Deadweight loss? Enter the absolute value only, no negative or $ signs.
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