I need help with these 5 Economics Multiple Choice Questions:

Let the market demand curve of corn (maize) be P=50-(1/2)Q.Let the market @9pr curve of corn be P=20+(1/2)Q Question 1 (1 point) Decades ago, Canada used to provide the price support program to support wheat producers from the 1940's to 1970's. It is still a commonly used government program in the US. agricultural market. What is the agricultural price support program? 0 The price support program sets price ceiling and then the government buys the shortage. O The price support program sets price floors and then the government buys the surplus. O The price support program sets price ceiling and then the government imports the shortage. O The price support program sets price floors and then the government subsidizes. Question 2 (1 point) Suppose that the government sets price of wheat floor above the original equilibrium price. Now, the price of wheat (per pound) is higher. Do you think this way of price flooring (price control) helps producers by increasing producers' total revenue? 0 Yes, a higher price always increases producers' revenue. 0 No, a higher price always increases producers' revenue. 0 Depends on how demand is sensitive to price changes. Revenue could increase or decrease after imposing price flooring O No, the price floor does not affect producers' total revenue. Question 3 (1 point) Which of the following graphs illustrate the price guarantee (subsidy) program? Price $/1b. Price $/1b. Supply $10 Supply $10 $8 $4 Demand Demand Q Corn 3/2 2 3 3/2 Q Corn 3 The left graph The right graphQuestion 4 (1 point) Edith has eaten more pineapple cakes for free at school this month. Her mom tells her that pineapple prices in the grocery stores have risen compared to last month's prices. Such a scenario of free cakes but higher consumer prices occurs when the government implements an agricultural farm _______ program. 0 Price support 0 Price subsidy Question 5 (1 point) The market for potatoes has the following demand and supply curves: Demand: P = 20 - 0.01 Q Supply: P = 5 + 0.01 Q When this market is in equilibrium the value of consumer surplus is 0 Less than $500 0 Between $500 and $1000 0 Between $1000 and $1500 0 More than $1500