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Illustrate and explain what would happen to the consumer surplus, producer surplus and deadweight loss if...

Illustrate and explain what would happen to the consumer surplus, producer surplus and deadweight loss if the government removes a binding price ceiling.

. Suppose that the current equilibrium in a given market is where Q=1000 and P=200. Demand and supply elasticities are estimated to be -0.4 and +0.5 respectively. Construct linear demand and supply equations.

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