Kindly help me out with these questions.

Name: Student ID: Section: MEASURING PRODUCTION AND INCOME WORKSHEET 8 Below, you are provided with a graph that shows how Potential GDP and Real GDP grow over time. You will use this graph to identify when Real GDP is expanding, contracting, or experiencing a peak. $18.2 $18.0 Potential GDP $17.8 Real GDP Potential GDP / Real GDP (in trillions] $17.6 $17.4 $17.2 $17.0 Jan. 2017 July 2017 Jan. 2018 Time Part 1: Suppose that the economy is at Point A in early 2017. Is Real GDP expanding, contracting, experiencing a peak, or experiencing a trough? Part 2: Suppose that the economy is at Point B in August 2017. Is Real GDP expanding, contracting, experiencing a peak, or experiencing a trough? Part 3: Suppose that the economy is at Point C in November 2017. Is Real GDP expanding, contracting, experiencing a peak, or experiencing a trough?The demand and supply equations for the apple market are: Demand: P - 12 - 0.010 Supply: P = 0.02Q where P- price per bushel, and Q-quantity. (Drawing graphs will help you a lot!) a. Calculate the equilibrium price and quantity. b. What are the consumer surplus and the producer surplus at the market equilibrium? c. Suppose the government imposes a price floor of 10 TL for apples. Calculate the consumer and producer surpluses after the price floor is applied. What is the dead weight loss resulting from this policy?Question 1: Part A: Suppose that the world is described by the Following model, and that the production function is: a+