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> Moving to another question will save this response. Question 4 When a quota is imposed on a market it will cause producers to become better off and consumers worse off. O True O FalseA market is characterized by the following functions: Demand: P = 195 - 0.24Q Supply: P = 30 + 0.16Q Suppose the government imposes a quota at 360 Calculate the producer surplus.A market is characterized by the following functions: Demand: P = 218 - 0.34Q Supply: P = 40 + 0.06Q Suppose the government imposes a quota at 380, Calculate the total quota rent.AMoving to another question will save this response. Question 1 of 7 > > Question 1 1 points Save Answer If the government had a price floor in a market, but then removes the price floor and allows the price to go to the equilibrium, the quality of the good will increase and the quantity sold will increase. True False> Moving to another question will save this response. Question 5 A binding price floor will result in deadweight loss because: some consumers who want to purchase the good at the price floor price cannot find a producer willing to sell at that price. O a black market will develop in which producers can sell the good at prices higher than the price floor. the quantity of the good will be less than the equilibrium quantity. consumers will waste time looking for the scarce good