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11) In the market for a particular product, the price elasticity of demand is 2, and the price elasticity of supply is +3/4. At equilibrium, price is 20 (in dollars) and quantity consumed is 36 (in thousands). (a) Assuming supply and demand are linear, reconstruct and draw the supply and demand curves. Label the intercepts. (b) To help consumers and produces, the government subsidizes the product by $2 per unit. What are the prices paid by buyers PB and prices received by seller Ps after the subsidy? What is the new equilibrium quantity? Illustrate them on the same graph. (c) How big is the change in consumer surplus, producer surplus, government expenditure, and deadweight loss