X Text Exercise 6.3 Question Help Canada has 20% of the world's known freshwater resources, yet many Canadians believe that the country has little or none to spare. Over the years, U.S. and Canadian firms have struck deals to export bulk shipments of water to drought-afflicted U.S. cities and towns. Provincial leaders have blocked these deals in British Columbia and Ontario Use graphs to show the likely outcome of such an export ban on the price and quantity of water used in Canada and in the United States if the markets for water are competitive. Show the effects on consumer and producer surplus in both countries. Assume the figure to the right illustrates the U.S. market for water, where the world price is Pw- Also assume that the Canadian water export ban eliminates U.S. water imports. Show the effect of the export ban on consumer surplus, producer surplus, and deadweight p, $ per unit loss in the U.S 1.) Using the point drawing tool, indicate the price domestic consumers pay and the quantity Pw . they consume before the ban. Label this point 'ed- D 2.) Using the point drawing tool, indicate the price domestic producers receive and the quantity they sell before the ban. Label this point'es. Q, Quantity 3.) Using the point drawing tool, indicate the domestic equilibrium price and quantity with the ban. Label this point'e.' 4.) Using the rectangle drawing tool and the triangle drawing tool each once, shade in the change in consumer surplus as a result of the ban. Label these shapes appropriately Rectangle . Triangle . "'SRectangle , or CS Triangle 5.) Using the rectangle drawing tool and the triangle drawing tool each once, shade in the change in producer surplus as a result of the ban. Label these shapes appropriately (PSRectangle . PSTriangle . PSRectangle , Or PS Triangle 6.) Using the triangle drawing tool, shade in deadweight loss (DWL) or new surplus (NS) from the ban Attach the appropriate provided labels, where "+ " indicates a positive change and " -" indicates a negative change. Carefully follow the instructions above, and only draw the required objects