Themarket demand function for corn is Q^d = 25 - 2P The market supply function is Q^s = 5P -5 both measured in billions of bushels per year. What would bethe welfare effects of a policy that put a cap of $3.75 per bushel on the price farmers can charge for corn? (Assume that corn is purchased by the consumers who place the highest value on it.)

Amount ($) New level of consumer billion surplus New level of producer surplus 18.90 billion New level of aggregate billion surplus Deadweight loss 2.51 billion