Suppose that QD = 100-P and Qs = P. Which of the following characterizes deadweight loss as a function of a price floor, p? O None of these answers ODWL(P) = 60 if p ≤ 50 DWL(P) = {(50-9), 12> 50 DWL(F) = {DWL(P) = (100 if p ≤ 100 DWL(P)= (100-p)², if>100 O DWL(p) = (50-p)² O (50-p)p ODWL(p)= (100-p)² if 50 DWL(P) = {(50-)², fp> 50 DWL(5)= = if p ≤ 50 F-60 ifp>50
Suppose that QD = 100-P and Qs = P. Which of the following characterizes deadweight loss as a function of a price floor, p? O None of these answers ODWL(P) = 60 if p ≤ 50 DWL(P) = {(50-9), 12> 50 DWL(F) = {DWL(P) = (100 if p ≤ 100 DWL(P)= (100-p)², if>100 O DWL(p) = (50-p)² O (50-p)p ODWL(p)= (100-p)² if 50 DWL(P) = {(50-)², fp> 50 DWL(5)= = if p ≤ 50 F-60 ifp>50
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:Suppose that QD = 100-P and Qs =P. Which of the following characterizes deadweight loss as
a function of a price floor, p?
O None of these answers
ODWL(P) = 60
if 50
DWL(P) = {(50-pp, up> 50
DWL(P)
=
{DWL(S)=
if p ≤ 100
DWL(P)= (100-P), ifp>100
O DWL(P)=(50-p)²
(50-p)p
ODWL(p)= (100-p)²
O
DWL(P) = {(50-)², ifp> 50
if p ≤ 50
DWL(8) = {
if p ≤ 50
F-50 fp>50
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