Identify the Surpluses. The following graph shows a supply curve and a demand curve and several areas between the curves. Identify the areas on the figure that represent the following: a. Consumer...

Identify the Surpluses. The following graph shows a supply curve and a demand curve and several areas between the curves. Identify the areas on the figure that represent the following:

a. Consumer surplus in the market equilibrium

b. Producer surplus in the market equilibrium

c. Total surplus in the market equilibrium

d. Consumer surplus under a maximum price of $10

e. Producer surplus under a maximum price of $10

f. Total surplus under a maximum price of $10

g. Consumer surplus under a maximum quantity of 70

h. Producer surplus under a maximum quantity of 70

i. Total surplus under a maximum quantity of 70