a. Let the market demand function be given as X" = f(Px) = 60,000 - 2,000 Px and market supply function be X'S = 3000 Px. What is the equilibrium: price (Po ), quantity exchanged (Xo), consumer surplus (CS.), producer surplus (PS.), and social surplus (SS.)? (5 pts.) b. Government initiates a price ceiling program, setting the maximum allowed price at $10. What is the new: price (P.), quantity exchanged (Xn), consumer surplus (CSn), producer surplus (PS,), and social surplus (SS,)? (5 pts.) c. How do economists use the Pareto Principle to evaluate the social desirability of a public policy? (2 pts.) d. According to the Pareto Principle, what can you say about the social desirability of this public policy? (3 pts.) e. How do economists use the Kaldor-Hicks Welfare Criterion to evaluate the social desirability of a public policy? (2 pts.) f. According to the Kaldor-Hicks Welfare Criterion, what can you say about the social desirability of this public policy? (3 pts.)