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The Ministry of Misallocation has decreed that the production of widgets must be 7000 each month and the production of gizmos must be 4000 each

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The Ministry of Misallocation has decreed that the production of widgets must be 7000 each month and the production of gizmos must be 4000 each month. Calculate the deadweight loss in each market caused by these restrictions. Please note the scale of the quantity axis is in thousands. Price of widgets Price of gizmos $10 $100 90 Supply Supply -NW AVIA NOOO Demand Demand 20 10 0 1 2 3 4 5 6 7 8 9 10 0 2 4 6 8 10 12 14 16 18 20 Quantity of widgets (in thousands) Quantity of gizmos (in thousands) What is the deadweight loss in the widgets market

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