The production manager of a paint producing company has studied the results of production and sales of the last 5 years and has determined that the supply and demand functions of these paintings are as follows:

Qd = 8,000-1,200p

Qs = 2,500p

It also considers a price of $1000 pesos per liter, given the initial equilibrium situation.

Next, answer the following questions:

1. Calculate and graph the surplus of the consumer and the paint producing company.

2. Calculate and explain how the maximum price affects the initial equilibrium, and graph the loss of social well-being caused by this measure.

3. What other goods, such as paints, have a price elasticity behavior? supply, price elasticity of demand and cross elasticity? Justify your answer by giving a example of each.