I only need help with part f. y_G , y_P , y_F , y_C are welfare weights for government, producers, factors of productions, and consumers, respectively.

A family's monthly demand for produce is given by the following equation:

Q= 10020P+ 0.0003I

where Q is the quantity demanded at price P when the household income is I. Assume initially that the family's income is $50,000.

A person's demand is given by the following equation:

log (Q) = 500 70 log (P)

where Q is the quantity demanded at price P. What is the elasticity of demand when P = 250? And P = 500? How does the elasticity of demand change as price changes?

For the next set of questions, use the following setup:

A family's monthly demand for produce is given by the following equation:

Q = 100 20P + 0.0003I

where Q is the quantity demanded at price P when the household income is I. Assume initially that the family's income is $50,000.

(b) At a price of $3, what is the price elasticity of demand for snacks?

(c) At a price of $3, what is the consumer surplus?

(d) If price rises to $4, how much consumer surplus is lost?

(e) If income were $80,000, what would be the consumer surplus loss from a price rise from $3 to $4?

(f) If income were $50,000 once again, the supply curve for produce was QS = 50 + 25P and society weighted each group as G = 0.5, C = 1 and P = F = 5. What would be the welfare change from a 2 dollar subsidy?