2. Societal welfare (1) 2.1. Suppose now that a market can be represented by the following pare of equations to representing the relationships between the market price and the quantity demanded or supplied Please calculate the producer and consumer surplus that occurs when the market reaches its equilibrium. Also, indicate it on a relevant graph, Qdemaned (P) = 21 - 2P Supplied (P) = P 2.2. Suppose that the government intervenes in the market and creates a law that says that the maximum price that can be charged is $3.50. Please, calculate the new societal welfare from this law, also indicate how the graph you drew for 2.1 would change as a result, and any change in overall welfare should be labelled.. 2.3. Which outcome, that of 2,1 or 2,2 would the government prefer and why is that (1pt)