Homework Answers
Ans) the correct option is b) $ 400 and producer surplus is $ 800
Consumer surplus = 0.5*( 60 - 40) * 40 = 400
Producer surplus = 0.5 * 40 * 40 = 800
Ans) the correct option is c) 60 units of the good
Imports = 80 - 20 = 60
Ans) the correct option is a) $ 7.50
Deadweight loss = 0.5*3* 5 = 7.5
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