The demand curve is given by the equation QD = 100 – 10p and the supply

Question # 00225125 Posted By: kimwood Updated on: 03/19/2016 04:07 AM Due on: 04/18/2016
Subject Mathematics Topic Geometry Tutorials:
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The demand curve is given by the equation QD = 100 – 10p and the supply curve by

QS = 10p

  1. Find the equilibrium price and quantity.
  2. Find the consumer surplus if price is equal to the equilibrium price.
  3. Find the producer surplus if price is equal to the equilibrium price.

Now suppose the government imposes a price ceiling at $4.

  1. What would be the effect of the price ceiling?
  2. Calculate consumer and producer surplus after the ceiling.
  3. Calculate deadweight loss after the ceiling is imposed.
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  1. Tutorial # 00220277 Posted By: kimwood Posted on: 03/19/2016 04:07 AM
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    The solution of The demand curve is given by the equation QD = 100 – 10p and the supply...
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