Question: The result is a bindingot binding The resulting output would be a shortage/a surplus/a equilibrium The demand and supply diagram for a market is shown
The result is a bindingot binding
The resulting output would be a shortage/a surplus/a equilibrium


The demand and supply diagram for a market is shown below. Use the information to answer the following questions. The Market Price 150 S 135 120 105 90 75 60 45 30 15 D 0 100 110 120 QuantityInstructions: Round your answer for price to two decimal places. Enter your answers for quantity as a whole number. For part B and C, if the market is in equilibram the amount of the shortage or suplus is 0 units. Enter all values of shortage and surplus as positive numbers. a. The equilibrium price is $[ and the equilibrium quantity is [ units. b. Suppose the government puts a price floor of $30.00 on the market. The result is a ( (Click to select) + price floor. The resulting output will be | (Click to select) : ) of [ units. c. Suppose instead the government puts a price floor of $75.00 on the market. The result is a ( (Click to select) ; price floor. The resulting output will be ( (Click to select) ; of units
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