What would be the effect of poor weather on the consumer

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Reference no: EM1321872

Q Qd=500-5p also Qs=2p-60

a. Graph the supply also demand curves.

b. Illustrate what are the equilibrium quantity also price?

c. Elucidate how much consumer surplus exists in this marketplace?

d. If there is Pmin = 10 ->> Illustrate what is the cost to the government?

e. Illustrate what is the deadweight loss?

Illustrate what would be the effect of poor weather on the consumer surplus, producer surplus, deadweight loss?

Q. Once an economy is on its production-possibilities curve; further economic growth requires an expansion of productive capacity.

Reference no: EM1321872

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