What is the deadweight loss in both markets if the price of, Ask an Expert

Economics

A marketing order for oranges has a fixed total supply of Q=1000 crates a month. Demand in the fresh orange market is
Qf =220-0.2p and demand in the market for processed orange products is Qp =1000-2p.

(i) find out the competitive market-clearing price.

(ii) What is the deadweight loss in both markets if the price of a crate of fresh oranges is raised to $200 and the price floor is sustained in the processed market at p obtained in (i)?

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M955284

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