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The subject is intermediate microeconomics. Each of 1,000 identical rms in the competitive peanut butter industry has a shortrun marginal cost curve given by SMC

The subject is intermediate microeconomics.

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Each of 1,000 identical rms in the competitive peanut butter industry has a shortrun marginal cost curve given by SMC = 3 + Q. If the demand curve for this industry is _ 3Q P_23 W], what will be the shortrun loss in producer and consumer surplus if an outbreak of aatoxin suddenly makes it impossible to produce any peanut butter":I Instructions: Round your answers to the nearest whole number. Producer surplus: $ |:| Consumer surplus: $ |:|

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