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D Question 9 Suppose that the market for a children's book is given by the following demand and supply functions: Demand: Supply: Qua 70 -

D Question 9 Suppose that the market for a children's book is given by the following demand and supply functions: Demand: Supply: Qua 70 - 20 Q=-10+2P Where: Qp and Qs are quantity demand and quantity supplied respectively, and P is the price. 3 pts Now suppose that, in an attempt to support the book publisher, a minimum price per book (price floor) is set at $25. The efficiency loss (deadweight loss) resulting from the price floor is equal to $

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