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In a market demand and supply equations are: the demand curve is P= 30- 2Q the supply curve is P=10 + 2Q A) shat are
In a market demand and supply equations are:
the demand curve is P= 30- 2Q
the supply curve is P=10 + 2Q
A) shat are the market competitive equilibrium price & quanity, consumer surplus and producer surplus?
ASSUME government imposes Pricd floor of $22 on the market:
B) what would be the new equilibrium quantity in the market?
C) what would be the market consumer surplus and producer surplus?
D) what are the hidden cost?
E) what would be the deadweight loss?
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