Question: Please be clear with the writing Question 1.5 For simplicity, suppose producers face constant marginal costs. And suppose the government has introduced a resource policy

Please be clear with the writing

Please be clear with the writing Question 1.5 For simplicity, suppose producers

Question 1.5 For simplicity, suppose producers face constant marginal costs. And suppose the government has introduced a resource policy that has changed the production cost of the producers. More specifically, because of the policy change, the producer's marginal cost has increased by $10. Suppose the following information has given for estimating the impacts of the policy: Producer's total cost function: TC = 200 + 20q (Hint: the first derivative of TC function with respect to Q is MC=20.) Demand function: q = 100-p What would be the cost of the policy (change in the consumer's surplus)

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