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e. You are analyzing the market for malunggay (in bags). The demand and supply functions are as follows: Q. = 60 - P Q =

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e. You are analyzing the market for malunggay (in bags). The demand and supply functions are as follows: Q. = 60 - P Q = P - 20 i. Determine the equilibrium price and quantity. ii. Graph the market equilibrium accurately. (Use intervals of 5 for x and y axes) iii. Compute and shade the consumer surplus. Show your solution. iv. Compute and shade the producer surplus. Show your solution. v. The government wants to support the malunggay sellers and would like to impose an incremental change of Php 5. Show the new price in the graph. vi. What economic problem would this new price create

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