Question: Please help! (: rect Price out 50 Supply flag 40 25 10 Demand 10 25 40 50 Quantity Use the graph above to answer the

Please help! (:

rect Price out 50 Supply flag 40 25 10 Demand 10 25 40 50 Quantity Use the graph above to answer the following questions. Do not use dollar signs. Round to two decimal places. a) Calculate the total surplus at equilibrium price and quantity. 625 b) Calculate the consumer surplus if a price floor of $40 is implemented 50 c) Calculate the producer surplus if a price floor of $40 is implemented. 400 X d) Calculate the producer surplus if the government guarantees to buy any surplus output at a price of $40. 800 e) Calculate the quantity the government will need to purchase if the government guarantees to buy any surplus output at a price of $40. 30 f) Calculate the amount the government will spend if a price floor of $40 is implemented. 1200 g) Calculate the amount the government will spend if the government guarantees to buy any surplus output at a price of $40. 225 X h) What price will consumers pay if the the amount the government guarantees to buy any surplus output at a price of $40? 25 X
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