Question 5. Suppose the demand and supply functions in Argentina salt market are: D(p) =72 - 6p S(p) = 4p-28 a) Graph the demand and supply for this market with p on the y-axis and q on the x-axis. What is the equilibrium quantity and price? Under the equilibrium calculate consumer surplus, producer surplus and total surplus in the market. (10 points) b) In order to subsidize the poor people, the Argentina government implements a subsidy of $2 for every unit of salt traded in the market. What is the change in consumer surplus? What is the change in producer surplus? What is the deadweight loss to society? (Hint: a graph will be helpful) (10 points)