Question

using the concepts of producer and consumer surplus explain the welfare implications of major brought on producers and consumer

Answer 1

Producer surplus = Maximum price a producer receives for a good – Minimum price producer is willing to accept
The difference represents the benefit received by producer which is maximum at market equilibrium levels without any interventions

Consumer Surplus = Maximum price they can pay – Willing to pay for a good
The difference represents the benefit received by consumer which is maximum at market equilibrium levels without any interventions

So any intervention in market would lead to loses where in market becomes inefficient and producer may supply less or consumer may buy less leading to loss to the society.