Use the following equations for supply and demand to solve, Business Economics

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Use the following equations for supply and demand to solve

Use the following equations for supply and demand to solve for the market equilibrium price and quantity, and produce a graph for the market. P = 3Qs + 10 P = −2Qd + 30

(a) Suppose that a quota of 2 units is imposed on this market; graphically depict this quota and show its effect. What is the new market price with the quota?

(b) Calculate Consumer Surplus.

(d) Calculate the Dead Weight Loss in this scenario.

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Business Economics: Use the following equations for supply and demand to solve

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Business Economics: Use the following equations for supply and demand to solve

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