Answered: The market for N-95 masks is perfectly…

The market for N-95 masks is perfectly competitive. Market Demand is given by Q=389-2P and Market Supply is given by Q=2P. The government imposes

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

The market for N-95 masks is perfectly competitive. Market Demand is given by Q=389-2P and Market Supply is given by Q=2P. The government imposes a quota of 133 units. What is the maximum total surplus in the market with this quota?

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