Consider the market for corn, illustrated in the figure to the right. Suppose the government regulates a price floor of $9.00 per bushel to help corn farmers. 16.00- What will be the effect of this price regulation on the market for corn? 15.00- Supply 14.00- 1.) Using the point drawing tool, indicate the market price and the quantity demanded with 13.00- the government's price floor. Label this point 'Qp' 12.00 - 11.00- 2.) Using the triangle drawing tool, indicate the deadweight loss created by the government's 10.00- price floor relative to the competitive equilibrium. Label this 'DWL'. 9.00- Price (dollars per bushel) 8.00- Carefully follow the instructions above, and only draw the required objects. 7.00- 6.00- 5.00- 4.00- 3.00- 2.00- 1.00- Demand 0.00- 0 100 200 300 400 500 600 7 800 Quantity (bushels in 1000s) Edit coordinates (350,7)