I will attach the assignment in word document You will need to login into my class and go to Microeconomics, then content, the digital book, then the chapter over assignment-Elasticity of Demand and...

Q.1 Consumer Surplus when there is no price floor
Consumer surplus is the difference between the price that the consumer is willing to pay for each unit and the price that the consumer actually pays.(Varian, HR)
Graphically, it is the area that is measured by the triangle represented by the area below the demand curve and above the equilibrium price
Consumer Surplus= ½ (500)*(100-50)
= ½*50*50= 12500
Q.2 Producer Surplus without the price floor
Producer surplus is the difference the prices the producer would like to sell the product and the price the producer actually receives.(Varian , HR)
Graphically, it is the area below the equilibrium price and above the supply curve.
Producer Surplus=...