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the market for oats which are crop is represented by Q= 1530-3p and Q= 5p-350 where p is measured in $/tonnes and Q is measured

the market for oats which are crop is represented by Q= 1530-3p and Q= 5p-350 where p is measured in $/tonnes and Q is measured in tonnes

question (a) what is total economic surplus when this mareket is at equilibrium ?

question (b) why the government want to set a price ceiling in the market what is criticism of using price ceiling?

question(c) if the government sets a price cei;ling at $250/tonne in the market . what is quantity exchanged ?

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