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confused how to get this Consider a market where supply and demand are given by OX3 = 16 + PX and Oxd = 92 2PX-

confused how to get this

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Consider a market where supply and demand are given by OX3 = 16 + PX and Oxd = 92 2PX- Suppose the government imposes a price floor of $40, and agrees to purchase and discard any and all units consumers do not buyr at the oor price of $40 per unit. a. Determine the cost to the government of buying firms' unsold units. $ 480 b. Compute the lost social welfare (deadweight loss] that stems from the $40 price oor. $|:|

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