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What is the deadweight loss

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Reference no: EM131249477

Suppose that the market demand curve is given by Q = 100 - P and the market supply curve is given by Q = 3P.

a. What is the deadweight loss that would result if the government were to institute a price cap of 20 in this market?

b. What is the deadweight loss that would result if the government were to institute a price cap of 30 in this market?

Reference no: EM131249477

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