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In the market for cotton, the quantity demanded, and quantity supplied are expressed mathematically as QD= 400 - 250P and QS = 250P - 100,

In the market for cotton, the quantity demanded, and quantity supplied are expressed mathematically as QD= 400 - 250P and QS = 250P - 100, where P is the price per pound of cotton and Q measures pounds of cotton. Suppose the government sets a price ceiling of $0.50 per pound of cotton. What is the value of the deadweight loss associated with the price ceiling?

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