Figure 4-8 Shows a Hypothetical Demand and Supply of Taxi

Figure 4-8 shows a hypothetical demand and supply of taxi rides in the city of Riyadh. The government imposes a restriction in this market that forces taxi drivers to get a license from the city government in order to be able to drive. The number of licenses is limited. The following question(s) are based on this figure.
-Refer to Figure 4-8. To legally drive a taxicab in Riyadh City, you must have a license issued by the city government. Assume that only 12,187 licenses have been issued. Let's also assume this puts an absolute limit on the number of taxi rides that can be supplied in Riyadh City on any day, because no one breaks the law by driving a taxi without a medallion. Assume as well that each taxi provides 6 trips per day. In that case, the quantity supplied of taxi rides is 73,122 (or 6 rides per taxi × 12,187 taxis). This is shown in the diagram with a vertical line at this quantity. Assume that there are no government controls on the prices that drivers can charge for rides.
a. What would the equilibrium price and quantity be in this market if there were no license requirement?
b. If there were no license requirement, indicate the area that represents consumer surplus.
c. If there were no license requirement, indicate the area that represents producer surplus.
d. If there were no license requirement, indicate the area that represents economic surplus.
e. What are the price and quantity with the license requirement?
f. With a license requirement in place, what area represents consumer surplus?
g. With a license requirement in place, what area represents producer surplus?
h. With a license requirement in place, what area represents the deadweight loss?
i. Based on your answers to parts (c) and (g) are taxicab drivers better off with the license requirement for taxicabs than without?
j. Are consumers better off with or without the license requirement for taxicabs?