Using the attached : Compute the values of Consumer Surplus (CS2) and Producer Surplus (PS2) associated with the new market equilibrium, clearly indicating the units that CS and PS are measured in.? What was the impact of the temporary supply shock on consumers and producers, based on the comparison of CS and PS in Questions 1 and 2? In other words, were each of these two groups of market participants hurt or made better off by change? Why? (Narrative response; suggested length of three to four sentences or one paragraph.)

Price S2 50 New equilibrium (P2=34, Q2=48) S1 New Consumer surplus (CS2) P2=34 P1=32 Old equilibrium (P1=32, Q1=54) New Producer surplus (PS2) 5 D1 0 Quantity Q2=48 Q1=54 150