The demand and supply functions for good x are (same as previous question, but ignore the price floor):

QD= 780 - 2Px- 6Py+ 0.02M

QS= 200 + 4Px- 5Pr- 2W

Currently,Py= 100, M = 5,000, Pr= 40,andW= 100.

At the market equilibrium price, what is the consumer surplus?

Refer to the demand and supply functions for good x above.

If the government imposes a price ceiling of $60, this will cause a shortage of how many units of good x?

Refer to the demand and supply functions for good x above.

If the government imposes a price ceiling of $60, what is the producer surplus at this price ceiling?

Refer to the demand and supply functions for good x above.

If the government imposes a price ceiling of $60, what is the consumer surplus at this price ceiling?

Refer to the demand and supply functions for good x above.

If the government imposes a price ceiling of $60, what is the dead-weight loss?