Question: The following has a trick component. Please read the text thoroughly, don't just use the formula Suppose that the Supply and Demand of maple syrup

The following has a "trick" component. Please read the text thoroughly, don't just "use the formula"

Suppose that the Supply and Demand of maple syrup are given by

Q = 100 - P

Q = 47 + 8 P

If the government sets a binding price floor at P=$58.63, what will be the value of Consumer Surplus?

Round your answer to two (2) decimal places if necessary

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