using the diagram, suppose that producers need to have licenses to sell apples, and that only 90 uni


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using the diagram, suppose that producers need to have licenses to sell apples, and that only 90 uni 1 answer below ยป using the diagram, suppose that producers need to have licenses to sell apples, and that only 90 units of apples are licensed (i.e. Q is limited to 90). Calculate; a. the sum of the consumer surplus and producer surplus b. the reduction in consumer well-being because of the licensing. Attachments: graph.jpg Jan 18 2016 07:50 AM

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