(b) On a graph, explain how the price control in the US would change the consumer surplus, producer surplus, and deadweight loss in the domestic wheat market. Assume that the US does not trade wheat internationally. Also, calculate the changes in consumer surplus, producer surplus and deadweight loss. (Remember 1 kilo tonne = 1,000 tonnes) (8 marks)
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I am an accomplished economics graduate academic researcher and writer, and I have excellent English language command. I currently teach as a part time instructor at a local college and have deep knowledge on academic Plus
I can do this graph for you. Please share the data that you have and any specific format requirements on the Graph. This can be a quick turnaround in a less than a couple of hours.