Demand for apartments in town is D (x) =860 – 3x, and the supply is S (x) =500+9x,%3Dwhere x is the number of apartments, in hundreds, and D (x) and S(x) are the rent indollarsper month, per apartment. The equilibrium point is (30, 770).Suppose a maximum rent of $644 per month is imposed by the town council.Find the deadweight loss.$ 1176$ 1152$ 16$ 3072

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Demand for apartments in town is D (x)=860 – 3x, and the supply is S(x) =500+9x, %3D where x is the number of apartments, in hundreds, and D(x) and S(x) are the rent in dollars per тonth, 1, per apartment. The equilibrium point is (30, 770). Suppose a maximum rent of $ 644 per month is imposed by the town council. Find the deadweight loss. $ 1176 $ 1152 $ 16 $ 3072

Demand for apartments in town is D (x)=860 – 3x, and the supply is S(x) =500+9x, %3D where x is the number of apartments, in hundreds, and D(x) and S(x) are the rent in dollars per тonth, 1, per apartment. The equilibrium point is (30, 770). Suppose a maximum rent of $ 644 per month is imposed by the town council. Find the deadweight loss. $ 1176 $ 1152 $ 16 $ 3072

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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