The government has set milk prices artificially high at p + (price/unit). Sketch a graph of a supply curve S ( q ) and a demand curve D ( q ) . Label the equilibrium price and quantity p ? and q ? , respectively. Then label a price p + that is greater than p ? . Let q + be the quantity for which the demand curve passes through p + . A. On your graph, highlight the area corresponding to the consumer surplus when the price is p + . This area can be expressed as a . B. On your graph, highlight the area corresponding to the producer surplus when the price is p + . This area can be expressed as a . C. The total gains from trade are given by the sum (consumer surplus + producer surplus). How do the total gains from trade change when the price is changed from p ? to p + ? a

The government has set milk prices articially high atp+ (price/unit]. Sketch a graph of a supply curve 3(q) and a demand curve D(q). Label the equilibrium price and quantity p* and q\". respectively. Then label a price p+ that is greater than 13*. Let (1" be the quantity for which the demand curve passes through 13+. A. On your graph, highlight the area corresponding to the consumer surplus when the price is 13+. This area can be expressed as E I I. l B. On your graph, highlight the area corresponding to the producer surplus when the price is p+. This area can be expressed as C]. C. The total gains from trade are given by the sum {consumer surplus + producer surplus]. How do the total gains from trade change when the price is changed from p\" to 11+? Select an option X CLOSE _/ x r \\ r x _r \\_ r \\_ q' I q, I 9+ 4+ None of the "man choices is correct. ' f0 (9(a) 19') d4 ' ' (D(Q)*P+) dq ' ' f (1301} p'J dq ' ' f (Don11+) dq ' |\\ El . 0 . 0 . f