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Consider a market where demand is D: P=60-3Q and supply is S:P = 4 =4Q . When the government imposes a price ceiling = $12,

Consider a market where demand is D: P=60-3Q and supply is S:P = 4 =4Q . When the government imposes a price ceiling = $12, disequilibrium between quantity demanded and quantity supplies results in:

Total surplus TS' with the price ceiling is

a. $96

b. $98

c. $100

d. $104

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