Question 6 : Consider the market for wheat represented in the diagram below. Initially, the equilibrium price for wheat is $1 per pound, and the equilibrium quantity is 200 million lb of wheat. Suppose that an unexpected late frost ruined the large crops of wheat and supply of wheat in the market decreased and price of wheat increased to $1.2 per pound. (25 points) ce of wheat Supply 1 r pound, $) Supply o Eqm1 a P1= $1.2 d Eqmo Po= $1 Demand 130 200 Quantity of wheat (millions a. Use the figure above to fill the following table: Surplus Before shift in supply After shift in supply Change Consumer Surplus Producer Surplus Social (Total) Surplus b. Use the answers to part a of this problem to answer the following questions: i. Did consumer surplus definetely rise, definitely remain constant, or definetely fall, or is the direction of the change in consumer surplus unclear? Explain why. ii. Did producer surplus definetely rise, definitely remain constant, or definetely fall, or is the direction of the change in producer surplus unclear? Explain why. iii. Did social (total) surplus definetely rise, definitely remain constant, or definetely fall, or is the direction of the change in social surplus unclear? Explain why