Can you please provide the detailed calculations for computing the surpluses for consumer and producer?

3. Suppose that wheat is uneconomical for private sector buyers and sellers to transport internationally. The below curves show the U.S. supply of and demand for wheat. The solid lines are for the U.S. private market (that is, excluding government demand). The dotted line adds government demand. Price ($/per ton) $1,000 $800 B $600 D E $400 K $200 W ero.com 0 10 20 30 Quantity of wheat (millions of tons) Suppose government demand is zero for now. (That is, ignore the dotted line.) The free market equilibrium price of wheat is _$600_per ton and the annual quantity produced is 20 million tons. The equilibrium consumer surplus (adding the correct A to K letters) and in $millions are: C A+B +C in letters $4000 in $ millions. The equilibrium producer surplus (adding the correct A to K letters) and in $millions are: D + E+ E in letters $4000 in $ millions. Now suppose government demands 20 million tons of wheat to ship out around the globe in humanitarian aid. (Government ignores shipping costs.) What happens to the price of wheat in the marketplace? It _ rises _ (rises/falls) to _ $800 per ton. How many tons of wheat will now sell in the U.S. idy source was downloaded by 1000008281 19989 from CourseHero.com on 07-20-2021 16:39:00 GMT -05.00 www.coursehero.com/file. 3441743 3/ANSWERS to-Practice-Quiz-3-Chapter-3docx 10 million tons