4. Consider the market for apples where demand is given by: Qd = 70-p and supply is given by: Qs = 40 + 2p Suppose that

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4. Consider the market for apples where demand is given by: Qd = 70-p and supply is given by: Qs = 40 + 2p Suppose that

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4 Consider The Market For Apples Where Demand Is Given By Qd 70 P And Supply Is Given By Qs 40 2p Suppose That 1
4 Consider The Market For Apples Where Demand Is Given By Qd 70 P And Supply Is Given By Qs 40 2p Suppose That 1 (27.71 KiB) Viewed 31 times
4. Consider the market for apples where demand is given by: Qd = 70-p and supply is given by: Qs = 40 + 2p Suppose that due to a market failure, only a maximum of 50 units of apples can be supplied. What is the amount of the deadweight loss caused by this market failure? [10 points - 5 for math, 5 for graph]
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