the marginal cost of a television set is $100.00 This is constant and equal to the average cost of the television set. The demand is given by the following equation Q=200,000-500(p)

a. if televisions are sold in a perfectly competitive market, calculate the annual number sold. under what conditions will the market equilibrium be economically efficient?

b. suppose tv sets are banned. calculate the loss in consumer surplus as a result of this action