Using the diagram, suppose that producers need to have licenses to sell apples, and that only 90 units of apples are licensed (i.e. Q is limited to 90). Calculate:
a. the reduction in the consumers’ surplus
b. the reduction in the producers’ surplus
c. How much does total surplus fall? (Aside: To solve “6a” it might be easiest to find an equation for P =a +bQd and to solve for “6b”, find an equation for P =a +bQs )