Homework Answers
At equilibrium: Qd = Qs
P = 5 and Q = 150
When price floor = 8
Qd = 250 - 20 x 8 = 90
price (sellers) = Qd/30 = 3
DWL = area of shaded region = (8 - 3) x (150 - 90) x 0.5 = $ 150
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