Use the information in the following table to graph the demand curve and the supply curve for cupcakes. Label the area of deadweight loss on your graph if the price is set at $1.60. Also label the area of surplus transferred from buyers to sellers. 
Definitions:
Groupthink
In a collective setting, a situation where the inclination towards unity or adaptation prompts decisions that are nonsensical or detrimental.
Immoral Decision
A choice that goes against established moral principles or ethical standards.
Foot-In-The-Door Technique
Asking for a small commitment and, after gaining compliance, asking for a bigger commitment.
Foot-In-The-Door Phenomenon
The foot-in-the-door phenomenon is a psychological tactic where agreeing to a small request increases the likelihood of agreeing to a larger request later.
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