The following graph shows the market for corn in the absence of any government intervention. Now, suppose the government implements a price floor mandating a minimum price of $6 a bushel, as well as a supplemental program to buy any surplus corn that is produced at that price.

Total surplus (consumer and producer) minus the total cost to society is equal to -$4,000 . Given that total surplus was equal to $16,000 in the absence of government intervention, the deadweight loss resulting from the price floor is equal to $12,000 (assuming the government throws away the corn it purchases). Now, assume that-instead of getting rid of the surplus corn-the government can transfer it to consumers who would have purchased it at prices between $6 and $2 a bushel without cost. Use the tan quadrilateral (rectangle symbols) to shade the area representing the additional consumer surplus resulting from this transfer. oper 10 Transfer Surplus Demand 7 PRICE (Dollars per bushel) N A NOV PSsence of any government intervention. Now, suppose the government implements a price floor andating a minimum price of $6 a bushel, as well as a supplemental program to buy any surplus corn that is produced at that price. the green triangle (triangle symbols) to shade the area representing consumer surplus after the price floor and surplus program are plemented, and the purple triangle (diamond symbols) to shade the area representing producer surplus after the price floor and surplus program implemented. Then, use the grey rectangle (star symbols) to shade the area representing the cost to society generated by the government chase of surplus corn. te: Once you have placed the shapes on the graph, select each one to see its value. 10 9 Consumer Surplus 8 Demand 7 6 Producer Surplus 5 Cost to Society Co N Supply 0 2 6 8 10 0 3 4 5 7 9 57Taxes and Subsidies the tan quadrilateral (rectangle symbols) to shade the area representing the additional consumer surplus resulting from this transf Transfer Surplus B Demand Supply 2 3 5 6 QUANTITY (Thousands of bushels) $4 $16 , decreasing the deadweight loss resulting from the price floor to increases total surplus by