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3.1 The following table shows the weekly demand and supply in the market for ice cream in New York City. Price Quantity Demanded Quantity Supplied (Dollars per gallon of ice cream) (Gallons of ice cream) (Gallons of ice cream) 2,000 200 Co 1,600 600 12 1,200 800 16 800 1,200 20 400 1,800 Use colored pencils or different shapes to draw demand and supply curves. Indicate the equilibrium price and quantity. 24 20 Demand 3 16 Supply 12 .+ PRICE (Dollars per gallon of ice cream) Equilibrium 8 400 800 1200 1600 2000 2400 QUANTITY (Gallons of ice cream) 3.2 The following graph shows the labor market in the fast-food industry in the fictional town of Supersize City. 20 Supply WAGE (Dollars per hour) Demand O 0 90 180 270 360 450 540 630 720 810 900 LABOR (Thousands of workers) Suppose a senator introduces a bill to legislate a minimum hourly wage of $12. This type of price control is called a And the quantity of labor demanded will be , the quantity of labor supplied will be thousands of workers at this new price control