Business, 26.03.2020 21:09 kayla6653

There are 1010 households in Lake Wobegon, Minnesota, each with a demand for electricity of Upper Q equals 50 minus Upper PQ=50−P. Lake Wobegon Electric's (LWE) cost of producing electricity is TC equals 600 plus 2 Upper QTC=600+2Q. a. If the regulators of LWE want to make sure that there is no deadweight loss in this market, what price will they force LWE to charge? What will output be in that case? Calculate consumer surplus and LWE's profit with that price. (Round all responses to two decimal places.)

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There are 1010 households in Lake Wobegon, Minnesota, each with a demand for electricity of Upper Q...

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