e: 3. Table 3.4 shows the market for mandarin oranges in the country of Preswar. a. What are the equilibrium values of price and quantity? Price: Quantity: b. Suppose that government imposes a price floor that is $0.20 different from the present equilibrium price. What would be the resulting shortage or surplus? (Shortage/surplus): Amount: c. Suppose instead that government imposes a price ceiling that is $0.20 different from the present equilibrium price. What would be the resulting shortage or surplus? (Shortage/surplus): Amount: TABLE 3.4 Quantity Quantity Price per Kilo Demanded Supplied $ 1.00 850 100 1.10 800 200 1.20 750 300 1.30 700 400 1.40 650 500 1.50 600 600 1.60 550 700 1.70 500 800