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ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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Do not use chatgpt

Transcribed Image Text:In the image below, identify the areas representing consumer surplus, producer surplus, and deadweight loss. Determine if the horizontal line in pink
represents a price cieling or a price floor. Provide an explanation of your answers to receive full credit. Use phrases like lower left triangle, trapezoid, or
triangle on the right side to describe the areas you are referencing in your explanation.
p=D(x)
P=S(x)
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