Consider a market where supply and demand are given by QXS = −16 + PX and QXd = 83 − 2PX. Suppose the government imposes a price floor of $36, and agrees to purchase and discard any and all units consumers do not buy at the floor price of $36 per unit. Instructions: Enter your responses rounded to the nearest penny (two decimal places). a. Determine the cost to the government of buying firms’ unsold units. $  b. Compute the lost social welfare (deadweight loss) that stems from the $36 price floor.

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