Please answer ONLY Part 2

A market has a demand function given by equation Qd=180-2P, and a supply function given by the equation Qs= -15+P. the market is government-regulated with price support per unit and production quotas.

1. If the price is set at $72 per unit what production quota is needed to make sure there are no shortages of surpluses?
2. Considering the price support and the quota, calculate the consumer surplus
3. Calculate the producer surplus
4. Calculate the deadweight loss

Part 2

Due to good weather, there is an increase in demand for goods. The new demand equation is Qd=190-2P. the government is trying to decide between two options;

Maintain the number of quotas and let the market adjust, or maintain the price support and increase the number of quotas.

Suppose that the government decided to maintain the number of quotas and the market adjust.

c) Calculate the

(I) price observed in the market,

(ii) the consumer surplus

(iii) the producer surplus

(iv) the deadweight loss