Shazrts7352 Shazrts7352

26-05-2023
Business

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The demand and supply for bicycles is given by: Qd = 1000 - 10P and supply is: Qs = 2P - 20 Now go back to original demand and supply. Suppose a price floor P=$90 is imposed. What is the Consumer Surplus and deadweight loss (DWL) after the price floor? (Hint: please draw a graph here) a. CS=$5500; DWL-120 b. CS=$500; DWL-$240 c. CS=$820; DWL=$750 d. CS=$500; DWL=$750 e. None of the above

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