27. The demand curve is P = 1,200 - 0.1 Q, where supply is P = 300 + 0.05 Q. There is a price floor at $800. What is the resulting gain to producers as a result of the floor? a. $1,200,000 b. $800,000 c. $700,000 d. $300,000 28. The demand curve is P = 1,200 - 0.1 Q, where supply is P = 300 + 0.05 Q. There is a price floor at $800. What is the resulting deadweight loss? a. 2,000 units b. $300,000 c. $200,000 d. $100,000
Added by Morgan L.
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