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Suppose that the demand curve is Q = 100 - l0p and the supply curve is Q = l0p. The government imposes a price ceiling

Suppose that the demand curve is Q = 100 - l0p and the supply curve is Q = l0p. The government imposes a price ceiling of p = 3. a. Describe how the equilibrium changes. b. What effect does this ceiling have on consumer surplus, producer surplus, and deadweight loss?

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