Please confirm if the solutions to the following questions are correct

Question 6 A market has a demand function given by the equation Gd 2 180 RP, and a supply function given by the equation Qs : 1 5 + P. The market is government regulated with a price support per unit and production quotas. {NOTEA production quota is a restriction on the quantity of the good that can he produced. Firms are not allowed to produce more than the quota) {a} If the price is set at $?2 per unit, what production quota is needed to make sure there are no shortages or surpluses? Answer: 50 Considering the price support and the quota, calculate (i) the consumer surplus, Answer: 126 (ii) the producer surplus, Answer: 1170(ii) deadweight loss, Answer: 49Due to good weather, there is an increase in the demand for the good. The new demand equation is Qd : 190 2P. The government is trying to decide between two options: I Maintain the number of quotas and let the market adjust, or I Maintain the price support and increase the number of quotas. Suppose that the government decides to maintain the number of quotas and let the market adjust. {c} Calculate the (i) price observed in the market, Answer: 68.33 (ii) the consumer surplus, Answer: 84.41 (iii) the producer surplus, Answer: 1571.59(iv) deadweight loss, Answer: 13.46 Suppose now that the government decides to increase the number of quotas available to 72 units, but it keeps the price support at the current level of $72. d) Calculate (i) the consumer surplus, Answer: 636.41(ii) the producer surplus, Answer: 1019.59 (iii) deadweight loss, Answer: 765.62(e) Which of the two options would be preferred by the producers? (f) Which of the two options would be preferred by society as a whole? preferred by the producers Option 1 preferred by society Option 1