Explain clearly

If the government put a price floor of $8.75 on both of the markets, which market would have a greater surplus or shortage? The market for motorcycles would have a bigger shortage. There is not enough information to answer the question. They would have the same size surplus. The market for pancakes would have a bigger shortage. O The market for pancakes would have a bigger surplus. The market for motorcycles would have a bigger surplus. O They would have the same size shortage.Consider two markets: the market for motorcycles and the market for pancakes. The initial equilibrium for both markets is the same, P = $3.50, and Q = 25 units. When the price is $8.75, the quantity supplied of motorcycles is 55 units and the quantity supplied of pancakes is 105 units. For simplicity of analysis, the demand for both goods is the same. What is the elasticity of supply for pancakes? Please round to two decimal places. elasticity of supply for pancakes:Supply in the market for motorcycles is O more elastic than supply in the market for pancakes. O the same elasticity as supply in the market for pancakes. less elastic than supply in the market for pancakes. O There is not enough information to tell which has a higher elasticity