Please answer the following questions based on the graphs.

4 _ (10 points) Price Supply Demand (a) Assume that the graph given above is the starting point Label the consumer and producer surplus on the graph. You may shade the relevant areas and then label them, (b) If there is a price floor (minimum legal price) above the equilibrium price, ivhat is the consumer sulplus and the new producer surplus? Please show the new consumer and producer surplus on the graph (NOT the change in surplus but the new CS and new PS). Price Supply Demand