Question

Suppose the market demand is given by Q = 30 - 2P , and the market...

Suppose the market demand is given by Q = 30 - 2P , and the market supply is given by Q = - 15 + 3P a)What is the value of Consumer Surplus when the market is in equilibrium? CS (euilibrium)=

b) Now suppose a Price Floor is set at $11. Calculate the Consumer Surplus after the Price Floor is imposed. CS (Price Floor)=

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