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Assume the competitive demand and supply for Video games is the following. Mkt Supply (MC): P=$20+$0.25Q Mkt Demand: P=$47.50-$0.5Q By setting MR=MC (Supply): a) Find

Assume the competitive demand and supply for Video games is the following.

Mkt Supply (MC): P=$20+$0.25Q
Mkt Demand: P=$47.50-$0.5Q

By setting MR=MC (Supply):
a) Find the Consumer and Producer Deadweight Losses
b) Find the wealth transfer to Producer Surplus

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