In Figure, we assumed that the 2,000 lessons available would be purchased by those who value them most (i.e., those who would get the most surplus from them). But one problem with price ceilings is that available supplies are sometimes allocated haphazardly, so that some consumers who value the good less are able to buy it, while others who value it more are not. Re-do the analysis of the price ceiling of $15 in Figure, this time under the (extreme) assumption that the 2,000 consumers who value lessons the least (but are willing to pay $15 or more) end up getting them. Specifically:

a. Identify the new area representing consumer surplus after the price ceiling.

b. Identify the new area representing the deadweight loss after the priceceiling.

pricel move leftward along curve Q2 Q1 priceT move rightward along curve P2 Qi Q2 price of input price of alternatives . number of firms . expected pricel supply curve shlfts rightward technological advance . favorable weather price of input - price of alternatives . number of firms . expected pricet . unfavorable weather suppy curve shlfts leftward