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Producer surplus and quantity supplied

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Reference no: EM132170517

If the price ceiling or price floor is ineffective, are the new consumer surplus, producer surplus and quantity supplied equal to the ones in a free market since it has no effect. Or is it equal to 0?

And also, when the price ceiling is effective does the new consumer surplus compared to the equilibrium goes up, or goes down? (please provide explanation)

Reference no: EM132170517

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