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Question 3 Tries remaining: 2 government imposes a a price ceiling of $49. Points out of 7.70 Calculate the dollar amount of deadweight loss from the price ceiling. The demand for wheat is given by: QD-220-P The supply of wheat is given by: Qs-5P-80. Suppose the Flag question (Do not include a S sign in your response. Round to the nearest two decimal places if necessary,) Answer: Check

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Answer #1

Ans: Dead weight loss = 15

It is clearly explained in the following diagram.

aao 5S a 11 16 QUANT/Ty ち 220-P = 5P-80 010 eillinj *f 49. 2

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