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2. Lef: use a question from a previous week to explore who a price ceiling would help and hurt, using numbers and a 543 diagram. Supply and demand for balloon rides. __ _ a. Graph the Supply and Demand cu ryes on graph paper, label everything! Use at least half a page for the graph. Find the equilibrium price and quantity using your graph. b. Let's evaluate a price cap on balloon rides at $100 per ride. Use your graph and the table to nd the new price and quantityr in this market. Then, explain who is helped by the policy and who is hurt, using numbers in your sentences. I always recommend writing 4 sentences See the video for details. 3. Reproduce the same 543 diagram for balloon rides, but this time shade and label the area of oonsumer surplus {GI and produoer surplus IFS]. Use at least hall a page for the graph. Label the areas with numbers {like I do in the video] and explain who gains and loses each area. The areas gained and lost should match the 4 sentences on question 2. Show the deadweight loss of the price control on the graph and explain in words. It. Let's think about some possible complications that might be caused by this price control on balloon rides. It prioe ceilings oatoe shortages (they dol. then how might market participants respond to those shortages. What else might the government need to do? Ean you thinlr. of some other side eff-eels created by prioe controls? Provide examples from the real world cases in problem 1