30. Refer to figure (6-1) Figure (0-1) c. $9. d. $5. Which of the following price cellings would be binding in this market? a. $8. b. $7. D a. shortage of 0. b. shortage of 20. quantity 31. Refer again to figure (6-1): If the government imposes a price ceiling of $4 on this market, then there will be a c. shortage of 40. d. surplus of 40.

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Q: 4. Now suppose that the government imposes a Price Floor equal to $8. As a result of this new…

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A: Answer is give below

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Q: Demand

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Q: 6. What would happen to the market if the price ceiling was set above the equilibrium?

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