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If the market for ice cream is in equilibrium what is the area corresponding to consumer surplus and the area corresponding to producer surplus? (2
If the market for ice cream is in equilibrium what is the area corresponding to consumer surplus and the area corresponding to producer surplus? (2 Marks) If a tax of $4 is applied in this market what is the price consumers pay? What is the price sellers receive? (2 marks) With a tax of $4, what are the areas corresponding to consumer surplus and producer surplus? What is the area of deadweight loss (DWL)
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