Consumer surplus is 2500 producer surplus is 1000 and

Question

1.) The market demand function for corn is

Q^d = 15 -2P.

The market supply function is

Q^S = 5P - 2.5,

both measured in billions of bushels per year. The initial equilibrium price is $2.5, and the initial equilibrium quantity is 10 billion bushels. Consumer surplus is $25.00, producer surplus is $10.00, and aggregate surplus is $35.00. Suppose the government gives corn farmers a subsidy of $0.91 per bushel of corn. What will be the effects on aggregate surplus, consumer surplus, and producer surplus? What will be the deadweight loss created by the subsidy?

Instructions: Round your answers to 2 decimal places.

Amount ($)  

New level of consumer surplus billion  ?

New level of producer surplus billion  ?

Cost of the subsidy to government billion ? 

New level of aggregate surplus billion  ?

Deadweight loss billion ?