Exercise $3\mathrm{.}5$ In Exercise $3\mathrm{.}4,$ suppose that the supply and demand describe an agricultural market rather than a labour market, and the government implements a price floor of $$140.$ This is greater than the equilibrium price.

$($a$)$ Estimate the quantity supplied and the quantity demanded at this price, and calculate the excess supply.

$($b$)$ Suppose the government instead chose to maintain a price of $$140$ by implementing a system