The market for N-95 masks is perfectly competitive. Market Demand is given by Q=310-2P and Market Supply is given by Q=2P. Q1 The government imposes a price ceiling of $44. What is the maximum Consumer Surplus in the market with the price ceiling? Enter a number only, drop the $ sign.

Exploring Economics
8th Edition
ISBN:9781544336329
Author:Robert L. Sexton
Publisher:Robert L. Sexton
Chapter5: Markets In Motion And Price Controls
Section: Chapter Questions
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The following questions are about price control and taxes in microeconomics. Please explain your answers, thank you so much. 

The market for N-95 masks is perfectly competitive. Market Demand is given by
Q=393-2P and Market Supply is given by Q=3P.
2
The government imposes a price floor of $42. What is market price with this
price floor?
Transcribed Image Text:The market for N-95 masks is perfectly competitive. Market Demand is given by Q=393-2P and Market Supply is given by Q=3P. 2 The government imposes a price floor of $42. What is market price with this price floor?
The market for N-95 masks is perfectly competitive. Market Demand is given by
Q=310-2P and Market Supply is given by Q=2P.
Q1
The government imposes a price ceiling of $44. What is the maximum Consumer
Surplus in the market with the price ceiling? Enter a number only, drop the $
sign.
Transcribed Image Text:The market for N-95 masks is perfectly competitive. Market Demand is given by Q=310-2P and Market Supply is given by Q=2P. Q1 The government imposes a price ceiling of $44. What is the maximum Consumer Surplus in the market with the price ceiling? Enter a number only, drop the $ sign.
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