What are the equilibrim quantity and price? what would be, Ask an Expert

Economics

Qd=500-5p and Qs=2p-60

a.Graph the supply and demand curves.
b.What are the equilibrim quantity and price?
c.How much consumer surplus esists in this market?
d.If there is Pmin = 10 ->> what is the cost to the government?
e.What is the deadweight loss?

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

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M971135

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