2. Figure 3.18 depicts the market for New York steaks. a. If government were to impose a price floor of $18 per kilo, what would be the result? Shortage/surplus of kilos b. If government were to impose a price ceiling of $12 per kilo, what would be the result? Shortage/surplus of kilos $24 20 16 Price 12 8 D 40 80 120 160 200 Quantity per period (thousands of kilos) FIGURE 3.18