Question: Suppose the demand function for coffee is given by: QD= 100-5P. The supply function for coffee is given by: QS= p-2 . If there is

Suppose the demand function for coffee is given by: QD= 100-5P. The supply function for coffee is given by: QS= p-2 . If there is a price ceiling of $10, determine the following values...

a. Determine the quantity of a shortage or surplus and fill in the numbr in the appropriate space. i. Shortage of __________ units. 42 units

b. Consumer surplus with the price ceiling: ____________ $73.60

c. Deadweight loss from the price ceiling: __________ $29.40

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Suppose the demand function for coffee is given by:QD= 100-5P The supply function for coffee is given by:

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