I need part E answered only, but please answer it from what the graphs gives only and not from any outside source. Someone already answered this but they used a different graph and not the one given in the picture. So please answer it accordingly with the given graph, thank you in advanced Use the graph below to answer the followingquestions:PriceSupply$15$14$13$12$11$10Demand2575125175225275Quantitya) What are the equilibrium price andquantity?b) If a price ceiling of $11 is imposed on thismarket, will there be a surplus (excess supply),a shortage (excess demand), or will the priceceiling have no effect on the market?c) If a price ceiling of $11 is imposed on thismarket, find quantity demanded.d) If a price ceiling of $11 is imposed on thismarket, find quantity supplied.e) If a price ceiling of $11 is imposed on thismarket, will consumer surplus increase,decrease, or remain the same?

Hi, Since you have asked for the solution of part 'e', we are providing you the solution for only that part. Consumer surplus is the difference between the highest price a consumer is willing to pay and the actual market price of a good. e) Consumer surplus increases if a price ceiling of $11 is imposed on this market. Explanation: Consumer surplus is 1/2 (base) (height) when the market is in equilibrium. Therefore at equilibrium price, consumer surplus is 1/2 (175-25) ($15-$13) = $150. When the price ceiling is $11, quantity available in the market is 75 units. Consumer surplus is that below the demand curve upto the market price ($11) for the available quantity. When we calculate that from the diagram it is more than $175. Therefore with the price ceiling, the consumer surplus increases.