Binghamton ECON 345 – Suppose that the market demand | Online Assignment Help: +1 (857)-330-4622

Binghamton ECON 345 – Suppose that the market demand

Binghamton ECON 345 – Suppose that the market demand 17.Suppose that the market demand curve is given by Q = 100 – P and the market supply curve is given by Q = 3P.a. What is the deadweight loss that would result if the government were to institute a price cap of 20 in this market?b. What is the deadweight loss that would result if the government were to institute a price cap of 30 in this market?