6.3 In a competitive market, the market demand curve is Q = 28 - 2p and the market supply curve is Qs = -8 + 2p. Use a spreadsheet to answer the following questions.

a. Determine the quantity demanded and quantity supplied for p = +4, 5, 6, p , 14. Determine the equilibrium quantity and price.

b. For prices p = +4, 5, 6, p , 14, determine the consumer surplus. How does an increase in price affect the consumer surplus?

c. For prices p = +4, 5, 6, p , 14, determine the producer surplus. How does an increase in price affect the producer surplus?

d. Suppose the government limits the quantity traded in the market to 6 units. Calculate the resulting deadweight loss.