he cost of producing silverware has risen as a result of an increase in the minimum wage. Consider some implications of this change. The following graph shows the effect of rising production costs on the market for silverware. Price of Silverware Quantity of Silverware Demand S 1 S 2 A B C D E F G Complete the first two rows of the following table by indicating which areas on the graph represent consumer surplus and producer surplus prior to the shift in supply. Then complete the second two rows by indicating which areas on the graph represent consumer surplus and producer surplus after the change in production costs. Check all that apply. A B C D E F G Initial Consumer Surplus Initial Producer Surplus New Consumer Surplus New Producer Surplus True or False: Consumers are hurt most by rising production costs when the demand for silverware is very elastic. True False