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Question 1
The graph below shows the supply and demand curves for burritos.

Consumer, producer and total surpluses with no government price controls:

What is the size of consumer surplus when there are no government price controls? $Hint Question 2 What is the size of producer surplus when there is no government price control?$

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Question 3
What is the size of the social surplus when there is no government price control? $Hint Question 4 What is the size of the deadweight loss when there is no government price control?$

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Question 5
Consumer, producer and total surpluse with a binding Price Floor: What is the size of the consumer surplus when a Price Floor of $7 is imposed?$

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Question 6
Consumer, producer and total surpluses with a binding Price Floor: What is the size of the producer surplus when a Price Floor of $7 is imposed?$

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Question 7
Consumer, producer and total surpluses with a binding Price Floor: What is the size of deadweight loss from a Price Floor of $7?$

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Question 8
Consumer, producer and total surpluses with a binding Price Floor: What is the size of the social surplus when a Price Floor of $7 is imposed?$

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Question 9
What is the difference between the total surplus before and after a price control is imposed? Consider how this number compares to the deadweight loss. \$

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