Assume that the daily demand for ice-cream is Q = 500 (P - 2) and Q = 11 000 - 1,000P. If the maximum sale price of ice cream is $ 4, how much will be the, producer and consumer profit ?
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Assignment Expert
08.01.20, 16:32
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Jeyhun
07.01.20, 20:13
Supply: Q = 500(P - 2) Demand: Q = 11000 - 1000P And now let us say
that PDC imposes a price ceiling of $4 on ice-cream sandwiches—on
the grounds that nobody should ever have to pay more than $4 for an
ice-cream sandwich. Calculate producer surplus and Consumer surplus?
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Dear visitor, please use panel for submitting new questions
Supply: Q = 500(P - 2) Demand: Q = 11000 - 1000P And now let us say that PDC imposes a price ceiling of $4 on ice-cream sandwiches—on the grounds that nobody should ever have to pay more than $4 for an ice-cream sandwich. Calculate producer surplus and Consumer surplus?
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