I'm not sure the answers

The Venezuelan government places price ceilings on food items, in particular rice and milk. There were reports of shortages as well as wide spread smuggling and hoarding in the nation. Answer the following questions: a. For the price ceiling to cause shortages it would need to be above or below the equilibrium price? B . Type A for Above or B for Below. b. The original market equilibrium price of milk was $0.50 per litre with 7 million litres being traded daily. The Venezuelan govemment decides to impose a ceiling price of $0.3 per litre. Assume all the milk producers remain in the market, they all cut back their production, reSulting in the market quantity supplied decreasing to 2 million litres at the ceiling price. What is the value of the loss in producer surplus, compared to the initial market equilibrium condition, when the price of milk moves from $0.5 to $0.3 per litre? (Hint: be careful to draw the demand and supply curves all the way back to the vertical price axis when calculating any areas). $ -0.90 million. Answer in millions to two decimal places. c. Extending the assumptions in b., assume government instability in Venezuela makes strictly enforcing the price ceiling of $0.3 per litre very difficult. The milk producers nd ways to violate the price ceiling and sell the 2 million litres of milk produced on the black market for $0."! per litre. By selling the 2 million litres of milk on the black market, has the consumer surplus increased or decreased compared to the consumer surplus when all the 2 million litres were sold at the ceiling price? D . Type I for Increase or D for Decrease