Supply and demand, Consider a market where supply and

Supply and demand

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Reference no: EM13322908

Consider a market where supply and demand are given by QXS = -12 + PX and QXd = 90 - 2PX. Suppose the government imposes a price floor of $38, and agrees to purchase any and all units consumers do not buy at the floor price of $38 per unit.Compute the lost social welfare (deadweight loss) that stems from the $38 price floor.

Reference no: EM13322908

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