I'm sorry, but I've been trying to get this answer, but to no avail. Please help.
4. Suppose the market demand curve is P = 120 and the market supply curve is P = 20. When the government imposes a price ceiling at P = $30, show the area of the deadweight loss (DWL).
5. The deadweight loss (DWL) = S (show calculation).
6. The consumer surplus (CS) = $ (show calculation).
S = CS + DS