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Consider the following demand and supply schedules for Chocolate Frosted Sugar Bombs cereal. Price Boxes demanded per Boxes supplied per month month $5.00 0 600

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Consider the following demand and supply schedules for Chocolate Frosted Sugar Bombs cereal. Price Boxes demanded per Boxes supplied per month month $5.00 0 600 $4.00 200 500 $3.00 400 400 $2.00 600 300 $1.00 800 200 $0.00 1,000 100 Question 1 If there is a price oor of $4.00 per box imposed on the cereal market, will there be a surplus or shortage of cereal, and how in be? Fill in the blanks: There is a (surplus, shortage) of (number) boxes of cereal

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