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11 Part - due wed alol Draw a supply and demand curve based on the following data and answer the questions. Make sure to LABEL curves. Garbanzo Beans Price Qd Os $2 5000 1000 $4 4000 2000 $6 3000 3000 $8 2000 4000 $10 1000 5000 1. Effect of a government imposed price floor of $8? 2. Effect of a government imposed price ceiling of $4? 3. What is the equilibrium price and quantity? 4. What would be the excess quantity demanded if the price of gabanzo beans is set at $2? 5. Assume that new studies show that garbanzo beans can help prevent cancer. Illustrate on the graph what would likely happen to the Demand curve. What would happen to the equilibrium price and quantity