If P1 in the graph below is a price ceiling, which letter here represents the Consumer Surplus and Producer Surplus? (Hint: CS is the area below the Demand curve, above the relevant price in the market, till the Quantity transacted in the market; P5 is the area above the Supply curve, below the relevant price in the market, till the Quantity transacted in the market;). CS=A+D;PS=B+C+E CS=A+D;PS=B+C CS=D;PS=B+C+E O CS=A+B;PS=C In the diagram below, if the line marked "price control" is a price floor, which of the following would we expect to happen eventually? (Hint: Is this price floor binding?) E Price control D Q Q1 Q2 Q3 O Excess demand to persist in the market. The excess demand is temporary, and the market returns to the equilibrium position E. O Excess supply to persist in the market. O The excess supply is temporary, and the market returns to the equilibrium position E