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Please answer this ASAP: Consider this a perfectly competitive market with demand represented by P= 25+5Q...

Please answer this ASAP: Consider this a perfectly competitive market with demand represented by P= 25+5Q and demand is described by P=250-10Q. Instead of a tax, suppose there is a ceiling price of $75 per unit. Which of the following statements is true?

The ceiling price is non-binding and so doesn't change the equilibrium conditions.

The Dead Weight Loss (DWL) is $187.50

The producers receives a transfer of $750 due to the ceiling price.

None of the statements are true.

All of the statements are true.
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Answer #1

Option 2

DWL=0.5*(150-75)*(15-10)

300 0 525 201 23 40 321 60 719 80 11 17 100 1515 120 19 13 140 2311 160 27 9 18031 7 200 35 5 220 39 3 240 431 26047-1 280 51 -3 250 225 175 Qd 125 Qs DWL 50 10 5 05 10 15 Quanbity 25 30 35 40 45 50 55

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