The domestic demand and supply and demand curves for petrol are as follows:
Supply: P = 50+ Q
Demand: P= 200 - 2Q
What will be the consumer and producer surplus if a price ceiling of 75 is imposed?
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The domestic demand and supply and demand curves for petrol are as follows:
Supply: P = 50+ Q
Demand: P= 200 - 2Q
What will be the consumer and producer surplus if a price ceiling of 75 is imposed?
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