4 Government Project(20 points) Suppose the government is considering buying q'=500 tons of concrete for a road construction. Before the government purchase, the market equilibrium quantity for concrete is qo=1000 tons and equilibrium price is pg=$20 per ton. The government's purchase for concrete causes the market price of concrete to rise from po=$20 to p1=$25 (so the government buys the concrete at price $25). Furthermore, after the government purchase, the new equilibrium quantity for concrete goes to q1=1300 tons. Suppose the concrete supply curve intercepts the Yaxis at price $15(see the graph)- a. After the government purchase of concrete, what's the quantity bought by original buyers(all other non-government buyers) in the concrete market? What is the change in Consumer surplus as a result of government purchase? . What is the change in Producer surplus as a result of government purchase? What is the net social cost of the government purchase of concrete? Does the government expenditure on concrete overstate or understate the social net cost of using the q' units of concrete? Explain Why. Quantity