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Consider a market summarized by: Qd= 200 - 3P, Qs= 40 + 5P. 1)If there are no externalities, what will be the total surplus? a.
Consider a market summarized by:
Qd= 200 - 3P,
Qs= 40 + 5P.
1)If there are no externalities, what will be the total surplus?
a. $11,200
b. $2,800
c. We don't have enough information.
d. $22,400
2) Suppose the government restricts the quantity sold to 80. What will be the deadweight loss?
a. $1,600
b. $960
c. We don't have enough information.
d. $6,400
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