Question: Plz Ans This Question Question 6: Consider a market for Lemonade. Please use the accompanying graph to answer following questions. P is the price of

Plz Ans This Question

Plz Ans This Question Question 6: Consider a market for Lemonade. Please

Question 6: Consider a market for Lemonade. Please use the accompanying graph to answer following questions. P is the price of Lemonade and Q is the quantity of Lemonade. 20 15 10 5 2 D 8 12 16 (a) What is the equilibrium price and equilibrium quantity of Lemonade in the market? (5) (b) Calculate the consumer surplus and producer surplus at the equilibrium quantity

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