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The inverse Demand is given by: P=30-0.25Q and the inverse supply is given by: P=0.5Q-30. If...

The inverse Demand is given by: P=30-0.25Q and the inverse supply is given by: P=0.5Q-30. If a Price Floor of $12 is imposed, then Consumer Surplus and DWL are: (Hint: it helps to draw a graph for this question)

Select one:

a. CS=1728; DWL = 12

b. CS=648; DWL = 12

c. CS=1600; DWL = 6

d. CS=648; DWL = 24

e. None of the above

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