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Unformatted text preview: $800? ___3,000 __. What is the quantity of apartments that will be rented if a price ceiling is set at $400? _2,000 __. What is the consumer surplus given this price ceiling? ____$400,000 ___; the producer surplus? ___$400,000 __; the dead weight loss? ____$200,000 ____; the search cost for rental? __$800,000 ___. Note : This problem may also be constructed with algebraic expressions for demand and supply as follows: Demand : P = 1200 200Q Supply : P = 200Q...
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This note was uploaded on 10/26/2009 for the course ECON 180-004-20 taught by Professor Bresnock during the Fall '09 term at UCLA.
- Fall '09
- Producer Surplus