Complete the following table by indicating whether each of the statements is an example of a price ceiling or a price floor and whether it results in a shortage or a surplus or has no effect on the price and quantity that prevail in the market. Statement Price Control Effect Due to new regulations, fast food restaurants that would like to pay better wages in order to hire more workers are prohibited from paying more than $16.50 per hour. The government has instituted a legal minimum price of $5 each for hamburgers. The government prohibits fast food restaurants from selling hamburgers for more than $8 each