Q-140-10p and the supply curve is Q-10p. The government imposes a price ceiling of p-$4 per unit. a. How do the equilibrium price and quantity change? (round quantities to the nearest integer and round prices nearest penny) and the price without the price ceiling is The equilibrium quantity without the price ceiling is $ 7 The equilibrium quantity with the price ceiling is b. What effect does this ceiling have on consumer surplus, producer surplus, and deadweight loss? 75.00 The change in consumer surplus (CS) is $ The change in producer surplus (PS) is S -165.00 (round your answer to the nearest penny). (round your answer to the nearest penny). (round your answer to the nearest penny). The deadweight loss (DWL) is S 90.00 70 40

Q-140-10p and the supply curve is Q-10p. The government imposes a price ceiling of p-$4 per unit. a. How do the equilibrium price and quantity change? (round quantities to the nearest integer and round prices nearest penny) and the price without the price ceiling is The equilibrium quantity without the price ceiling is $ 7 The equilibrium quantity with the price ceiling is b. What effect does this ceiling have on consumer surplus, producer surplus, and deadweight loss? 75.00 The change in consumer surplus (CS) is $ The change in producer surplus (PS) is S -165.00 (round your answer to the nearest penny). (round your answer to the nearest penny). (round your answer to the nearest penny). The deadweight loss (DWL) is S 90.00 70 40

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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