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How do I answer C, D, and G based on the graph Be sure to show all work. 3. Use the following information about the

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How do I answer C, D, and G based on the graph

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Be sure to show all work. 3. Use the following information about the market for tacos to draw the market demand and supply curves on the graph below. Label the curves D and S. Show any work. Quantity Supplied Quantity Demanded Price per Taco 0 100 $1.00 25 75 $2.00 50 50 $3.00 75 25 $4.00 0 $5.00 100 Market for Tacos 10 7 8 6 s (5/ 4) 12.5 Price PWL S 4 Pez3 PS & MC MB 2 surplus 0- D 10 20-5 30 40 Qe-50 60 70 80 90 100 Quantity Qs>Q 0 Lexcess supply)Maximizing Total Welfare to Society Be sure to show all work. or a shortage? What is the value of the CS = 12.5 surplus or shortage? Show the surplus PS = 25 or shortage on the graph. c. What is the new value of consumer surplus? Did consumer surplus increase or decrease? By how much? d. What is the new value of producer surplus? Did producer surplus increase or decrease? By how much? e. What is the value of deadweight loss 34.5 to society due to the price control? Label the area of DWL on the graph. f. Suppose the government institutes an effective price control at a price of Price Ceiling $4.00 per taco. Is this a price floor or price ceiling? g. Will the market experience a surplus or a shortage? What is the value of the surplus or shortage? Show the surplus or shortage on the graph

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