Help plz & graph 14 %5Click on the icon to read the news clip, then answer the followingquestions.50t8The graph shows the market for milk in Venezuela when a price control isin effect.Draw a shape that represents:1) consumer surplus. Label it CS.2) producer surplus. Label it PS.3) the deadweight loss. Label it DWL.Also draw a shape that show the resources lost from time spend in line.Label it Loss.Moving from a milk market with no price controls to a milk with pricecontrolsconsumer surplus andproducer surplus.OA. decreases; increasesOB. decreases; decreasesOC. increases; increasesOD. increases; decreasesIn the market for cheese,6OOll***yhMSelected:none&7UOj*8▸k(9OA60-50-4030-20-10+0✓Price (bolivars per gallon)40)0300200 300 400 500Quantity (gallons of milk)>>> Draw only the objects specified in the question.Delete Clear ?100PricecontrolрD600 700NextQQXxUS Click on the icon to read the news clip, then answer the followingquestions.Ju mastupe u TUIG TOTO un sponu G.Label it Loss.Moving from a milk market with no price controls to a milk with pricecontrolsconsumer surplus andproducer surplus.OA. decreases; increasesOB. decreases; decreasesOc. increases; increasesOD. increases; decreasesIn the market for cheese,OA. total surplus is maximized and no deadweight loss arisesOB. consumer surplus decreases and producer surplus decreasesOC. a deadweight loss arisesOD. the price is below the market equilibrium5tgO6yhSelected:none&7O*8kO6050-9DOO40+3020-10-400Price (bolivars per gallon)300200 300 400 500 600 700Quantity (gallons of milk)>>> Draw only the objects specified in the question.Z Delete Clear ?"1000р| 1PricecontrolD+NextA=xQQUS

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Click on the icon to read the news clip, then answer the following questions. The graph shows the market for milk in Venezuela when a price control is in effect. *** Draw a shape that represents: 1) consumer surplus. Label it CS. 2) producer surplus. Label it PS. 3) the deadweight loss. Label it DWL. Also draw a shape that show the resources lost from time spend in line. Label it Loss. Moving from a milk market with no price controls to a milk with price consumer surplus and controls producer surplus. OA. decreases; increases OB. decreases; decreases OC. increases; increases D. increases; decreases In the market for cheese, 60- 50- 40- 30- 20+ 104 0 Price (bolivars per gallon) 40 $ 100 Price control D 300 200 300 400 500 Quantity (gallons of milk) >>> Draw only the objects specified in the question. 600 700

Click on the icon to read the news clip, then answer the following questions. The graph shows the market for milk in Venezuela when a price control is in effect. *** Draw a shape that represents: 1) consumer surplus. Label it CS. 2) producer surplus. Label it PS. 3) the deadweight loss. Label it DWL. Also draw a shape that show the resources lost from time spend in line. Label it Loss. Moving from a milk market with no price controls to a milk with price consumer surplus and controls producer surplus. OA. decreases; increases OB. decreases; decreases OC. increases; increases D. increases; decreases In the market for cheese, 60- 50- 40- 30- 20+ 104 0 Price (bolivars per gallon) 40 $ 100 Price control D 300 200 300 400 500 Quantity (gallons of milk) >>> Draw only the objects specified in the question. 600 700

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter7: Consumers, Producers, And The Efficiency Of Markets

Section7.2: Producer Surplus

Problem 2QQ

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