Lesson 3 Assignment Quantity Pric Quantity Surplus / Demanded e Supplied Shortage 85 $3.40 65 80 3.70 70 75 4.00 75 70 4.30 80 65 4.60 85 60 4.90 06 The above table represents the market for pineapples. a. Fill in the numerical values in the Surplus / Shortage column. b. What is the equilibrium price? What is the equilibrium quantity? Explain your answers using the Surplus/Shortage column. c. Draw a graph using the data in the table. d. Suppose the government places a price floor of $4.60 in this market for pineapples. Show this price floor on your graph and explain the effect it will have on the market. e. Suppose the government places a price ceiling of $3.70 in this market for pineapples. Show this price ceiling on your graph and explain the effect it will have on the market