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Suppose That the Demand for Housing Is Given by the Equation

Question 27

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Suppose that the demand for housing is given by the equation Xd=8-P/3.If the price of housing is initially 9,what is the amount of consumer surplus? Suppose now that the price changes to 13.What happens to consumer surplus? Is there a DWL?

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When the price is 9,the quantity demande...

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