2. Now you are examining the market for milk where dairy farmers sell their product. Use the two functions below to answer the following questions. P=0.5+v2o5 P=s.5oQD 1 a. What is the equilibrium price and quantity of a gallon of milk in this market (Q is in hundreds of gallons)? b. At this market equilibrium, calculate the consumer surplus, producer surplus, and social surplus. e. You receive news from your constituents that. many dairy farms are shutting down because they cannot sustain their operations at this market price. You decide to intervene and set the minimum price of a gallon of milk at $3.75 [i.e., a price oor). Calculate the consumer surplus1 producer surplus. social surplus, and deadweight loss at this price point. (1. Why would you partake in this intervention and who is affected? Which situation is better from an efficiency standpoint