1. The government of Venezuela imposed price ceilings on a wide variety of consumer goods from 2007. The markets for flour, sugar, and cooking oil were subject to strong price controls that required they be sold below the market price. As a result of these price ceilings, in 2015 the government required that producers provide between 30 and 100 percent of their output to the government. Draw a graph to illustrate the impact of the price ceiling in the market for sugar (take a picture/scan to attach in your email). On your graph be sure to indicate the areas representing consumer surplus, producer surplus, deadweight loss, and an excess supply or shortage. (6 marks)