4. (a)What happens to consumer and producer surplus after a rent control is established?Do they increase or decrease?Explain.

b)What happens to total welfare?Be sure to include the concept of deadweight loss in your explanation.

5. (a) Give an example of a normal good.(Do not use the examples from the text.)Will the income elasticity of this good be greater than or less than 1?Explain.

(b)Give an example of an inferior good.(Do not use the examples from the text.)Will the income elasticity of this good be greater than or less than 1?Explain.