The table below shows hypothetical market demand and supply schedules for cranberries. Price Quantity Demanded Quantity Supplied ($ per kg) (millions of kg per year) (millions of kg per year) D S 3.50 16 3.00 4 12 2.50 8 8 2.06 12 4 1.50 16 a. Draw a graph showing the demand and supply curves, D and S. Plot only the endpoints to draw the demand curve (D) and the supply curve (S). Market Supply and Demand for Cranberries 4.0 Tools 3.5 S 3.0 D 2.5 Price ($ per kilogram) 2.0 (17, 2.5) 1.5 1.0 0.5 0 4 8 12 16 20b. Before government intervention equilibrium pr'ce is $ and equilibrium quantity is million kilograms per year. Enter your responses for prices rounded to 2 decimal places, c. The initial consumer surplus in this ma ket is $ million and the initial producer surplus is $ million. d. Certain producers in this market are given exclusive rights to sell cranberries and they ctoose to restrict quantity supplied to 1 million kilograms per year. The new equilibrium price becomes $ and the new equilibrium quantity becomes million kilograms. e. The transfer of consumer surplus to producer surplus resulting from this policy is $ tillion and the deadwe'ght loss is $ million. t. Due to this policy consumers are (Click to select) v and producers still operating in the market are (Clickto select) v . g. The deadweight loss resulting from the output restriction is a dollar estimate of how much 0 consumers are made worse oft. O producers who are still in the market are made worse off. 0 producers who have lost the right to operate in this market are made worse off. 0 society as a whole is made worse off. The table below shows the share of income received by each fifth of income earners, from lowest to highest, in three hypothetical countries. 1 2 3 4 5 (lowest) (highest) Country 1 5 10 15 25 45 Country 2 7 11 17 24 41 Country 3 9 14 18 23 36 a. Calculate the cumulative distribution of income among the five groups of income earners in each country. Enter your responses below rounded to a whole number. 1 2 3 4 5 (lowest) (highest) Country 1 Country 2 Country 3 b. Draw a graph showing the three countries' Lorenz curves. Plot 6 points for each curve, including the origin point (0, 0), for a total of 18 points plotted below. To manually enter plotting coordinates click on a line segment between 2 points then click on the widget icon to bring up the curve properties box.Cumulative Share of Income {'35} 100 03 D O" D 43 C; M D Lorenz Curve For three countries Households ($5) Tools 0 Country 'I If\".I Country 3 If \\| Country 2 I. T". I J c. in (Click to select) v the middle. has the most equal distribution of income, {Click to select) v has the least equal distribution, and (Click to select) v