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In a hypothetical market, The demand equation is given as: P = 68 - 3Q The supply equation is given as: P = 20 +

In a hypothetical market,

The demand equation is given as: P = 68 - 3Q

The supply equation is given as: P = 20 + 2Q.

1) What is the monopoly market quantity and price?

2) What is the consumer surplus?

3) What is producer surplus?

4) What is the total wealth?

5) what is the Deadweight Loss relative to a perfectly competitive market?

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