Question: QUESTION 19 Note: No referencing is required for short answer questions. Using the information contained in the diagram immediately below. (a) Calculate the consumer surplus

QUESTION 19 Note: No referencing is required for short answer questions. Using the information contained in the diagram immediately below. (a) Calculate the consumer surplus at equilibrium. (b) Calculate the producer surplus at equilibrium. (c) Calculate the deadweight loss if the government imposed a price floor of $60. (d) is the imposition of the $60 price floor Pareto Optimal? Why? 120 100 80 60 Price ($) 20 10 15 20 25 Lemans

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