Q. Utilize the subsequent diagram to compute total consumer surplus at a price of $8 also production of 6 million meals every day. For the same equilibrium, compute total producer surplus. Assuming price remained the same at $8 but production was cut to 3 million meals every day, compute producer surplus also consumer surplus. Compute the deadweight loss from underproduction.

Q. Assume that you hear 2 people arguing about energy. One says that we are running out of energy. Other counters that we are running out of cheap energy. Explain which person is correct also why