Graph Input lool Market for Florida Oranges 50 I Price (Dollars per box) 45 15 Supply 40 Quantity Demanded (Millions of boxes) Quantity Supplied (Millions of boxes) 900 378 35 30 Demand 10 90 180 270 380 450 540 630 720 810 900 QUANTITY (Millions of boxes) In this market, the equilibrium price is s |per box, and the equilibrium quantity of oranges is million boxes. For each price listed in the following table, determine the quantity of oranges demanded, the quantity of oranges supplied, and the direction of pressure exerted on prices in the absence of any price controls. Price Quantity Demanded Quantity Supplied (Dollars per box) (Millions of boxes) (Millions of boxes) Pressure on Prices 20 30 True or False: A price ceiling below $25 per box is not a binding price ceiling in this market. (Economists call a price ceiling that prevents the market from reaching equilibrium a binding price ceiling.) PRICE (Dollars per box)

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