# The demand and supply functions for haggis in the local markets are: Qd =20000-833p and Qs= 5000+ 417P. A. calculate consumer and producer surplus in the market. B. If the minimum wage is increased by $2 per hour, the new market supply curve becomes Q's =4000+417p. Calculate the loss in consumer and producer surplus due to this change At vero eos et accusamus et iusto odio dignissimos ducimus qui blanditiis praesentium voluptatum deleniti atque corrupti quos dolores et quas molestias excepturi sint occaecati cupiditate non provident, similique sunt in culpa qui officia deserunt mollitia animi, id est laborum et dolorum fuga. Et harum quidem rerum facilis est et expedita distinctio. Nam libero tempore, cum soluta nobis est eligendi optio cumque nihil impedit quo minus id quod maxime placeat facere possimus, omnis voluptas assumenda est, omnis dolor repellendus. Itaque earum rerum hic tenetur a sapiente delectus, ut aut reiciendis voluptatibus maiores alias consequatur aut perferendis doloribus asperiores repellat. ## A community for students. # The demand and supply functions for haggis in the local markets are: Qd =20000-833p and Qs= 5000+ 417P. A. calculate consumer and producer surplus in the market. B. If the minimum wage is increased by$2 per hour, the new market supply curve becomes Q's =4000+417p. Calculate the loss in consumer and producer surplus due to this change

Economics - Financial Markets