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April 10th, 2012, 01:23 AM  #1 
Newbie Joined: Apr 2012 Posts: 7 Thanks: 0  Help: Demand and supply equation
Hi i don't quite understand this question, i know the answer, but i don't understand how to work out the answer. Much help is appreciated~ Lardland is a net importer of Donuts. It faces a world price of $500 per Kg. The demand and supply equations are given by P = 1000 – 2QD and P = 400 + 1Qs. Suppose the government imposes a tariff of $100, this would result in a Dead Weight Loss of: Answer: $7500 How do i get this answer? 

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