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Macroeconomics 1st Edition by Dean Karlan,Jonathan Morduch
Edition 1ISBN: 978-0077332648Macroeconomics 1st Edition by Dean Karlan,Jonathan Morduch
Edition 1ISBN: 978-0077332648 Exercise 21
Figure 6P-1 shows a market in equilibrium.
a. Draw a price ceiling at $12. What is the amount of shortage at this price? Draw and calculate the deadweight loss.
b. Draw a price ceiling at $4. What is the amount of shortage at this price? Draw and calculate the deadweight loss.
a. Draw a price ceiling at $12. What is the amount of shortage at this price? Draw and calculate the deadweight loss.
b. Draw a price ceiling at $4. What is the amount of shortage at this price? Draw and calculate the deadweight loss.
Explanation
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Price ceiling:
Price ceiling refers to ...
Macroeconomics 1st Edition by Dean Karlan,Jonathan Morduch
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