Need answer to part c) (iv) only

The Chief Medical Officer has advised the government that consumption of widget-com improves the survival rate of COVlD-ls by 20%. Suppose the supply and demand functions for widget-corn are: a\": 1005P i1} (1' = 5P. (2} P is the price in dollar and Q is the quantity In kilograms. a. Determine the market equilibrium price and quantity of widget-corn? [6 marks] b. Calculate the consumer surplus, producer surplus, and total economic surplus at the market equilibrium. [7 marks] c. Having confirmed the positive impact of widget-corn consumption on comp-19 patients, the government has ordered widget-corn sellers to charge 55 per kilogram. ii] What type of price regulation policy is this? Briey explain. [3 marks] {ii} Calculate the impact ofthe policy on the quantity of widget-corn supplied and demanded. (6 marks] (iii) Explain the impact of the policy consumer surplus, producer surplus, and total economic surplus. (5 marks] (iv) Is the outcome of the government's policy efficient and. therefore, maintained or abandoned? Explain in detail. [8 marks] d. Using equations (1] and [2], sketch the demand and supply diagram and indicate your results from parts {a] - {c}. Correctly label the