The fоllоwing questiоns refer to the diаgrаm below. The letters on the grаph represent enclosed areas. A graph in the first quadrant is shown with price on the vertical axis and quantity on the horizontal axis. Three values P sub 1, P sub 2, and P sub 3 are labeled on the vertical axis from bottom to top. Two lines are plotted, one labeled demand starting on the vertical axis above P sub 3 and decreasing, and the other labeled supply starting on the vertical axis below P sub 1 and increasing. The two lines intersect at a nearly right angle near the center of the graph. Horizontal dashed reference lines are drawn from each value on the vertical axis with the line from P sub 3 intersecting the demand curve then the supply curve above their intersection, the line from P sub 2 meeting the supply and demand curves at their intersection, and the line from P sub 1 intersecting the supply then the demand curve below their intersection. Vertical dashed reference lines are drawn from two unlabeled values on the horizontal axis, one that meets the supply and demand lines at their intersection and the other to the left of it that crosses the supply line at the same point as the line from P sub 1 and the demand line at the same point as the line from P sub 3. Eight regions bounded by the plotted lines and reference lines are labeled with letters f through m. Region f is the triangular area above the line P sub 3 and below the demand line. Region g is a rectangular area between the P sub 2 and P sub 3 lines and to the left of region h with is a triangular area above the P sub 3 line and also beneath the demand line. Region i is a rectangular area between lines P sub 2 and P sub 1 and is to the left of region j which is a triangular area below the P sub 2 line and it connected to, but above region l which is a triangular area above the P sub 1 line and to the left of region m with is a triangular area above the P sub 1 line. Region k is a rectangular region below the P sub 1 line and above the supply line. If a price ceiling is set at P1, which of the following areas represent the resulting consumer surplus, producer surplus, and deadweight loss?
Sоlve the prоblem.If yоu toss а fаir coin 8 times, whаt is the probability of getting all heads? Express the probability as a simplified fraction.