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 4.00 3.50 6 OAND 3.00 NA 2.50 2. 00 8 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 4.5 Tools 4.0 3.5 D S 3.0 2.5 Price ($ per kilogram) 1.5 1.0 0.5 C 2 4 6 8 10 Quantity (millions of kilograms per year)b. Before government intervention equilibrium price 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 market is $ million and the initial producer surplus is $ million. d. Certain producers in this market are given exclusive rights to sell cranberries and they choose to restrict quantity supplied to 2 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 $ [ million and the deadweight loss is $ million. f. Due to this policy consumers are ( (Click to select) * ) and producers still operating in the market are ( (Click to select) g. The deadweight loss resulting from the output restriction is a dollar estimate of how much consumers are made worse off. producers who are still in the market are made worse off. producers who have lost the right to operate in this market are made worse off. society as a whole is made worse off