Calculation of Competitive Market
A marketing order for oranges has a fixed total supply of Q = 1, 000 crates a month. Demand in the market for fresh oranges is Q1 = 220−0.2p and that in the market for processed orange products is Q2 = 1, 000 − 2p.
Calculate the competitive market-clearing price.
What is the deadweight loss in both markets if the price of a crate of fresh oranges is raised to $200?
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