The market for rice currently is at the equilibrium. Demand for rice is P = 39 ...
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The market for rice currently is at the equilibrium. Demand for rice is P = 39 - 0.0015Q and supply is P = 3.8 + 0.001Q. Then the government imposes a price ceiling at $11.
By how much will total surplus change?
If it is a negative change (a decrease) be sure to enter the negative sign. E.g. -$50
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