The graph below represents the market for lychee nuts.The equilibrium price is $7.00 per bushel,but the market price is $5.00 per bushel.Identify the areas representing consumer surplus,producer surplus,and deadweight loss at the equilibrium price of $7.00 and at the market price of $5.00. 
Definitions:
Industrial Standards
Established norms and requirements regarding technical specifications and safety measures that products or processes should meet within an industry.
Knowledge Retention
Knowledge Retention is the process of systematically capturing, storing, and managing the knowledge created within an organization to ensure it can be accessed and used in the future.
Market Definition
The process of determining the boundaries of a market, including potential customers and competitors, based on geography, demographics, and product use and needs.
Situation Assessment
An evaluation of the current conditions, challenges, and opportunities facing an organization or project, often as a basis for strategic planning.
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