This assessment is challenging me, please assist.

3.6. Briefly explain what a market surplus is. On the diagram that you have drawn for Question 3.1 (or by drawing a new diagram if you prefer), clearly indicate where a market surplus will be and illustrate what happens to price and quantity. 3.7. Refer to page 59 of the textbook (Example 2.5) depicting the US market for wheat as it was in 1981. Suppose that by the start of 2020, the total demand for wheat in the United States of America (US) has changed to Qo -3 244 - 283P and the domestic supply has changed to Qs = 1:944 + 207P. At the end of 2020, both South Africa and Zambia opened their wheat markets to US farmers. Suppose that these new markets added 200 million bushels of wheat to the US wheat demand. What will be the free market price of wheat and what quantity will be produced and sold by US farmers? Tip: Indicate what the new demand curve will be, find the new equilibrium price and substitute this price in either the demand or supply equation. CO