Figure price control look at the figure price

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7. (Figure: Price Control) Look at the figure Price Controls. A price ceiling has been imposed at point d . Identify the areas that correspond to the consumer surplus, producer surplus, and deadweight loss with this price control. In addition, identify the area representing lost producer surplus that has been transferred to consumers as a result of this policy. 8. If Brazil gives up three automobiles for each ton of coffee it produces, while Peru gives up seven automobiles for each ton of coffee it produces, then Brazil has a comparative advantage in _____ production and should specialize in _____.
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