Market Equilibrium, disequilibrium, Floor and Ceiling Prices, CS, PS, DWL Based on the following functions, compute for the: Demand: P = 1200 – 4Q Supply : P = 655 + 2Q Assume that the government...

Market Equilibrium, disequilibrium, Floor and Ceiling Prices, CS, PS, DWL


Based on the following functions, compute for the:
Demand: P = 1200 – 4Q
Supply :  P = 655 + 2Q

Assume that the government provided subsidy amounting to P150 to consumers.

1. Draw the graph on items 2-3

2.Determine the Ps

3. Compute for the DWL(Black)