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The data shows the demand and supply for wheat:

quantity of bushels per year $($in million$)$

Price per bushel $($$$)81012141618$

Quantity demanded $353025201510$

Quantity supplied $51015202530$

Refer to the information above to answer this question. What would happen if the government were to establish a price floor of $$16$ per bushel of wheat?

Multiple Choice

The price floor would stay at $$16$ and there would be no surplus in the market.

The equilibrium price would rise to $$16$ and there would be shortage in the market.

The quantity demanded would increase to $15$ million bushels.

There would be a surplus of $10$ million bushels of wheat.

The wheat buyers would have difficulty finding sufficient wheat in the market.