I would like the answers and explanation for 6-8 please.

Suppose that the Gondwanaland Chairman of Production Office determines that gosum berry producers are not receiving enough revenue at the $50 equilibrium price and decides to implement a price floor of $70. This causes the demand for gosum berry barrels to decrease from 500 barrels per month to 300 barrels per month. Also, in response to the new regulated price of $70, gosum berry producers increase production from 500 barrels to 700 barrels per month. The Chairman of Production Office then purchases the 400 barrel per month surplus.

The accompanying chart and diagram illustrate the market for Gondwanaland gosum berries. Using this information, answer the following questions.

+UNIT 6 BU224 ASSIGNMENT TEMPLATE Price Quantity Supplied Quantity Demanded $120 1.200 $110 1,100 $100 1.000 0 $90 900 100 $80 800 200 $70 700 300 $60 600 400 $50 500 500 $40 400 600 $30 300 700 $20 200 800 $10 100 900 SO 0 1,000GONDWANALAND GOSUM BERRY MARKET Supplied Demanded $130 $120 $110 D S $100 590 P $80 R Price $70 $60 Floor C $50 E $40 $30 $20 S $10 BUZ Unito signme Template for D $0 100 200 300 400 500 600 700 900 1000 1100 1200 QUANTITY6. The Chairman of Production Office buys any barrels of gosum berries that the producers are not able to sell. With the price floor, the producers sell 300 barrels per month to consumers, but the producers, at this high price floor, produce 700 barrels per month. How much money does the Chairman of Production Office spend on buying up surplus gosum berries? Show your calculations. (Enter your response here.) 7. The emperor of Gondwanaland must collect taxes from the people to pay for the purchases of surplus gosum berries by the Chairman of Production Office. As a result, total surplus with a price floor (TSpf) is reduced by the amount the Chairman of Production Office spent on buying surplus gosum berries. Using your answers for questions 4. 5, and 6 above, what is the total surplus when there is a price floor (TSpf)? Show your calculations. (Enter your response here.) 8. How does the total surplus with a price floor (TSpf) (from question 7) compare to the total surplus without a price floor (TS) from question 3 above? Explain if it is more or less, and by how much? Show your calculations