Refer to Figure 5-8. After the imposition of a milk quota at quantity Q1, economic surplus is represented by

9. Refer to Figure 5-8. After the imposition of a milk quota at quantity Q1, economic surplus is represented by (a) areas 1, 2 and 5. (b) areas 3 and 4. (c) areas 2, 3, 5 and 6. (d) areas 1, 2 and 3. The diagram below shows the market for litres of milk. 1 P1 Price 2 Supply 5 Po 6 3 (7 Demand 4 Q1 Qu Quantity FIGURE 5-8