Do you agree with the graph message? If you do, is it consistent with principle 7? In panel (a), the government imposes a price floor of $2. Because it is below the equilibrium price of $3, the floor has no effect, and the market can reach the equilibrium of supply and demand. At this point, quantity supplied and demanded both equal100 cones. In panel (b), the government imposes a price floor of $4. Because the floor is above the equilibrium price of $3, the market price is $4. At this price, 120 cones are supplied while only 80 are demanded, so there is a surplus of 40 cones