$400 $380 $360 $340 $320 $300 $280 $260 $240 $220 $200 $180 $160 $140 $120 $100 $80 $60 $40 $20 (20 points) Harappa is a small country. The market for onions in Harappa is perfectly competitive and the following graph shows annual market demand and supply curves in Harappa. $0 0 Assume the government of Harappa wants to encourage the consumption of more onions for its citizens. It is considering either instituting a price ceiling of $120 or subsidizing onion suppliers by giving them a subsidy of $60 for each onion produced. Using the graph above and the box below, compare the impact of these two approaches on onion price, onion consumption, and overall efficiency in the onion market. Which policy should the government pursue? Clearly label all markup on the graph. 5 10 15 20 25 30 35 40 45 50 55 onions (tons) 60