4. Price controls in the Florida orange market The following graph shows the annual market for Florida oranges, which are sold in units of 90-pound boxes. Use the graph input tool to help you answer the following questions. You will not be graded on any changes you make to this graph. Note: Once you enter a value in a white field, the graph and any corresponding amounts in each grey field will change accordingly. Graph Input Tool (? The Supply and Demand for Oranges Market for Florida Oranges 60 Price 15 45 (Dollars per box) Supply Quantity 500 Quantity Supplied 210 40 Demanded (Millions of boxes) (Millions of boxes) 35 30 25 PRICE (Dollars per box) 20 Demand 15 10 0 0 50 100 150 200 250 300 350 400 450 500 QUANTITY (Millions of boxes)In this market, the equilibrium price is per box, and the equilibrium quantity of oranges is S 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 3 C E - True or False: A price ceiling above $25 per box will prevent the market fro uilibrium. 0 True 20 T 0 False 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 above $25 per box will prevent the market from reaching equilibrium. O True O False