Wage $ 7. The government intervened in this market setting the new wage rate at $17.50 per hour. What do economists call this intervention? 3 pts. 8. Gains and losses of this government intervention a. How many workers received a higher wage as a result of the intervention? 5 pts. b. How many fewer jobs in the market were available as a result of the intervention? 5 pts. c. Identify the new consumer surplus area by letter. 5 pts. d. What is the dollar value of consumer surplus after the intervention? 5 pts. Show computation here: e. Identify the new producer surplus area by letter 5 pts. f. What is the dollar value of producer surplus after the intervention? 5 pts. Show computation here: g. Identify the deadweight loss area after the intervention 3 pts. h. What is the dollar value of the deadweight loss after the intervention? 5 pts. Show computation here: i. Identify the rectangle, by letter, of the incurred search cost to society? 3 pts. j. What is the dollar value of the incurred search cost to society? 5 pts. Show computation here: Wage $ 7. The government intervened in this market setting the new wage rate at $17.50 per hour. What do economists call this intervention? 3 pts. 8. Gains and losses of this government intervention a. How many workers received a higher wage as a result of the intervention? 5 pts. b. How many fewer jobs in the market were available as a result of the intervention? 5 pts. c. Identify the new consumer surplus area by letter. 5 pts. d. What is the dollar value of consumer surplus after the intervention? 5 pts. Show computation here: e. Identify the new producer surplus area by letter 5 pts. f. What is the dollar value of producer surplus after the intervention? 5 pts. Show computation here: g. Identify the deadweight loss area after the intervention 3 pts. h. What is the dollar value of the deadweight loss after the intervention? 5 pts. Show computation here: i. Identify the rectangle, by letter, of the incurred search cost to society? 3 pts. j. What is the dollar value of the incurred search cost to society? 5 pts. Show computation here