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Part 3 - Practice- The government of Paulaville decides to set prices of wheat. The demand and supply of bushels of wheat are given below.

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Part 3 - Practice- The government of Paulaville decides to set prices of wheat. The demand and supply of bushels of wheat are given below. Graph the information in the table and answer the questions. Price Quantity Quantity Demanded Supplied 25 $10 200 100 20 $15 150 120 15 $20 130 130 $25 100 140 10 100 150 200 10. Calculate the amount of the shortage or surplus if the government sets a price floor at $10. It is at the equilibrium 11. Calculate the amount of the shortage or surplus if the government sets a price floor at $25. 40 units 12. Calculate the amount of the shortage or surplus if the government sets a price ceiling at $15. 30 units 13. Calculate the amount of the shortage or surplus if the government sets a price ceiling at $25. equilibrium

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