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. a. Without the subsidy, which area(s) represent(s) the total gains from trade? b. After the subsidy, which area(s) represent(s) consumer surplus? c. Which area(s)

. a. Without the subsidy, which area(s) represent(s) the total gains from trade?

b. After the subsidy, which area(s) represent(s) consumer surplus?

c. Which area(s) represent(s) producer surplus?

d. Which area(s) represent(s) total government spending on this subsidy?

e. Is there going to be a deadweight loss? If yes, what are the reasons?

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