17. Consider the market for some product X that is represented in the demand-and-supply diagram. 57.00- For each of the legislated price controls listed, determine the price 51.00- and quantity exchanged after imposition of control, whether a 45.00- shortage or surplus develops, and if so, how much. 39.00- a. a price floor at $21 per unit 33.00- The price is $ and the quantity exchanged is 27.00- This means that there is (1) 21.00 (Type whole numbers.) 15.00 b. a price floor at $33 per unit 9.00- The price is $ and the quantity exchanged is D 3.00- . This means that there is (2) 12 24 36 48 60 72 84 (Type whole numbers.) Quantity (units per day) c. a price ceiling at $21 per unit The price is $ and the quantity exchanged is . This means that there is (3) Type whole numbers.) d. a price ceiling at $33 per unit. The price is $ and the quantity exchanged is This means that there is (4) Type whole numbers. (1) O a surplus of 12 units O a shortage of 48 units O no effect on the market O a shortage of 24 units O a surplus of 36 units a surplus of 48 units DO a surplus of 24 units O a shortage of 12 units a shortage of 36 units (2) O no effect on the market O a shortage of 48 units O a surplus of 12 units O a shortage of 12 units O a surplus of 36 units a surplus of 48 units O a shortage of 24 units O a surplus of 24 units O a shortage of 36 units (3) O a shortage of 36 units O a surplus of 48 units O no effect on the market O a shortage of 24 units O a surplus of 24 units a shortage of 48 units O a shortage of 12 units O a surplus of 12 units O a surplus of 36 units (4) O no effect on the market O a shortage of 48 units O a surplus of 36 units a shortage of 24 units O a surplus of 24 units OO a surplus of 12 units O a shortage of 12 units O a shortage of 36 units O a surplus of 48 units