Question: Can you please write the answer with the details and explanation Price [dollars per mil] Quantity [units] From the figure given above indicate (a) What

Can you please write the answer with the details and explanation

Price [dollars per mil] Quantity [units] From the figure given above indicate (a) What is the Equilibrium Price and equilibrium quantity? (b) Explain the concept of producers' surplus and indicate the area of producers' surplus in the gure given above. (0 ) lfthe quantity ofproduetion is reduced to 2 units what will happen explain and indicate the area. (d) Ifthe overproduction takes place indicate quantity deadweight loss

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