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Business, 13.02.2020 20:06 LiliGrey4335

The government, hoping to encourage the consumption of the highly nutritious super food, is considering imposing a price ceiling at $5 per gallon of blueberries. Identify the equilibrium price and quantity of blueberries before the introduction of a price ceiling. Identify and quantify the effect of imposing a price ceiling at $5 per gallon on: a. the quantity of blueberries that get bought and sold. b. any existing shortage or surplus of blueberries. c. consumer surplus. d. producer surplus, and 5) total surplus.

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