analyze the effect a $300 price ceiling would have on the market for ten-speed bicycles. Would this be a binding price ceiling? b. Using the graph shown, analyze the effect a $700 price floor would have on this market for ten-speed bicycles. Would this be a binding price floor? c. Why would policymakers choose to impose a price ceiling or price floor? d. Assume market for bicycles is perfectly competitive; government enforces price celling at price of $300 so that poor families can afford bicycles. Will government able to achieve its goal of helping poor in this case. Explain. e.. if government imposes a tax of $100 on sellers of bicycles, using graph above analyze burden of tax on buyers, sellers, new price, price received by buyers, price received by sellers, and effect on output of bicycles