ADVANCED ANALYSIS Assume the following values for the figures below: Q1 = 20 bags. Q2 = 15 bags. Q3 = 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 fis $59 per bag. The price g is $31 per bag. Apply the formula for the area of a triangle (Area = 1/2 x Base * Height) to answer the following questions. (a) (b) Efficiency loss from underproduction Efficiency loss from overproduction a $85 S $85 S d Price (per bag) Price (per bag) $55 $59 b $45 $45 $35 $31 e $5 $5 C D C D 15 20 20 27 Quantity (bags) Quantity (bags)Instructions: Enter your answers as a whole number. a. What is the dollar value of the total surplus i: producer surplus + consumer surplus} when the allocatively efficient output level is produced? $E What is the dollar value of the consumer surplus at that output level? $: b. What is the dollar value ofthe deadweight loss when output level 02 is produced? $ What is the total surplus when output level 02 is produced? $ c. What is the dollar value of the deadweight loss when output level 03 is produced? $ What is the dollar value of the total surplus when output level 03 is produced? $