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The demand for okra is given by: QD= 270 -2P . The supply of okra is given by: QS= 10P -210 . The government has
The demand for okra is given by:QD= 270 -2P. The supply of okra is given by:QS= 10P -210. The government has implemented a price floor of$95.
Calculateproducer surpluswith the price floor.
The demand for wheat is given by:QD= 186 -0.4P. The supply of wheat is given by:QS= 3P -120. Suppose the government imposes a a price ceiling of$68.
Calculate the dollar amount ofconsumer surplusfrom the price ceiling. (answer is not 16674)
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