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ch9_p2 - curve becomes 4,000 417 ′ = S Q P Calculate the...

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9_2. The demand and supply functions for pizza in the local market are: 20,000 833 = - D Q P and 5,000 417 . = + S Q P Calculate consumer and producer surplus in this market. If the minimum wage is increased by $2 per hour, the new market supply
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Unformatted text preview: curve becomes: 4,000 417 . ′ = + S Q P Calculate the loss in consumer and producer surplus in the pizza market due to this change....
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