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3.30 3.00 2.70 Supply 2.40 2 10 1.80 1:50 1.20 0.90 Demand 0.60 0.30 50 100 150 200 250 300 350 400 Suppose that a price
floor is set at $1.50 in the market above, what will be the effect? O a. There will be an excess supply of 50 units O b. There will be
a shortage of 100 units O c. There will be a shortage of 50 units O d. The floor will be non-binding
 

3.30 3.00 2.70 2.40 2.10 1.80 1.50 1.20 0.90 0.60 0.30 50 100 150 250 200 O b. There will be a shortage of 100 units O c. There will be a shortage of 50 units. d. The floor will be non-binding 300 350 Demand 400 Supply Suppose that a price floor is set at $1.50 in the market above, what will be the effect? O a. There will be an excess supply of 50 units