Answer the blanks and choices are binding/ not binding and the bigger lines are neither a shortage nor surplus / a surplus / a shortage

A market is described by the following supply and demand curves: Qs = 3P QD = 400 - P The equilibrium price is $ and the equilibrium quantity is Suppose the government imposes a price ceiling of $120. This price ceiling is , and the market price will be $ . The quantity supplied will be , and the quantity demanded will be There eiling of $120 will result in binding not binding Suppose the government imposes a price floor of $120. This price floor is , and the market price will be |$ The quantity supplied will be and the quantity demanded will be . Therefore, a price floor of $120 will result in Instead of a price control, the government levies a tax on producers of $40. As a result, the new supply curve is: Qs = 3(P- 40) With this tax, the market price will be $ the quantity supplied will be , and the quantity demanded will be The passage of such tax will result in