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Economics 1st Edition by Dean Karlan,Jonathan Morduch
Edition 1ISBN: 978-0073511498Economics 1st Edition by Dean Karlan,Jonathan Morduch
Edition 1ISBN: 978-0073511498 Exercise 1
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.
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 ...
Economics 1st Edition by Dean Karlan,Jonathan Morduch
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