Problem
In 2002, Los Angeles imposed a ban on new billboards, which was upheld by the courts in 2009. Owners of existing billboards did not oppose the ban. Why? What are the implications of the ban for producer surplus, consumer surplus, and welfare? Who are the producers and consumers in your analysis? How else does the ban affect welfare in Los Angeles?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.