Supply and demand curves are shown in the figure below. A price of $20 is artificially imposed. p($/unit) 50 S 40 30 20 10 50 100 150 200 250 D q (quantity) (a) At the $20 price, estimate the consumer surplus, the producer surplus, and the total gains from trade. 1350 Consumer surplus = 1000 Producer surplus Total gains from trade= (b) Compare your answers to the values of consumer surplus, producer surplus, and total gains from trade at the equilibrium price. What are the effects of price controls? (0) With these price controls, consumer surplus is about $ (i) With these price controls, producer surplus is about $i (iii) With these price controls, total gains from trade are about $ less than at equilibrium. greater than at equilibrium. less than at equilibrium