ADVANCED ANALYSIS Assume the following values for the figures below: Q1 = 20 bags. 02 = 15 bags. @3 = 27 bags. The market equilibrium price is $45 per bag. The price at a is $85 per bag. The price at c is $5 per bag. The price at /is $59 per bag. The price at g is $31 per bag. Apply the formula for the area of a triangle (Area = \\ * Base x Height) to answer the following questions. (a) (b) Efficiency loss from underproduction Efficiency loss from overproduction Price (per bag) 155 Price (per bug) $35 95 D 15 20 20 27 Quantity (bags) Quantity (bags)a. What is the dollar value of the total surplus ( producer surplus + consumer surplus) when the allocationy efficient output level Is produced? What is the dollar value of the consumer surplus at that output level? $ b. What is the dollar value of the deadweight loss when output level Q2 is produced? What is the total surplus when output level Q? is produced? S c. What is the dollar value of the deadweight loss when output level Q3 is produced? $ What is the dollar value of the total surplus when output level Of is produced