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Assume that the market for Good X is defined as follows: QD = 64 - 16P and QS = 16P - 8. If the government

Assume that the market for Good X is defined as follows: QD = 64 - 16P and QS = 16P - 8. If the government imposes a price ceiling at $2.00 in this market, what is the loss associated with this policy?

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