not use ai please Suppose the demand curve is given by P=470-2Q and the supply curve is given by P=5Q Suppose the supply curve shifts left by 20. How much lower is total surplus in the new equilibrium than in the old equilibrium? Give your answer to 2 decimal places.

not use ai please Suppose the demand curve is given by P=470-2Q and the supply curve is given by P=5Q Suppose the supply curve shifts left by 20. How much lower is total surplus in the new equilibrium than in the old equilibrium? Give your answer to 2 decimal places.

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter4: Prices: Free, Controlled, And Relative

Section: Chapter Questions

Problem 2WNG

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