What is the deadweight loss

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Reference no: EM131238806

Suppose the Supply and Demand for plastic cups is given by the following set of equations:

Qd=200-5P

Qs=20p

Suppose that the price ceiling of $6 is imposed on this market. If the highest willingness to pay consumers are allocated the cups, what is the deadweight loss? (please show all work).

Reference no: EM131238806

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