Question: m quantity: 15 (LO 1, 3, 4) Table 3.4 shows the market for mandarin oranges in the country of Preswar. a What are the equilibrium

m quantity: 15 (LO 1, 3, 4) Table 3.4 shows the market for mandarin oranges in the country of Preswar. a What are the equilibrium values of price and quantity?Price: Quantity: b Suppose that government imposes a price floor that is $0.20 different from the present equilibrium price. What would be the resulting shortage or surplus? (Shortage/surplus): Amount: C Suppose instead that government imposes a price ceiling that is $0.20 different from the present equilibrium price. What would be the resulting shortage or surplus?(Shortage/surplus): Amount

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