A price floor, to be effective, must be set below the equilibrium price. True or False True False inal browser and 53A%252F%252Flinstcollege 3 Supply & Demand Elaborated Saved Save te 5 Required information The following data shows the market for soccer balls of Price ($) Demand Supply O 120 0 10 110 20 20 100 40 30 90 60 40 80 80 50 70 100 60 60 70 50 140 120 Refer to the above information to answer this question. Assume that initially the market is in equilibrium and the demand and supply both increase by 20 units What will be the new equilibrium price and quantity