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Please solve. Given the following diagram: Price Floors and Ceilings Price Floor 4 Price Floor I [u I{)IJ'I .uuuuuuuuuuuuuuuuuu Instructions: Under settings, click Price Floorto

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Given the following diagram: Price Floors and Ceilings Price Floor 4 Price Floor I [u I{)IJ'I .uuuuuuuuuuuuuuuuuu Instructions: Under settings, click "Price Floor"to select it. When it Is selected, it will be highlighted in dark blue. as. What is the equilibrium price and quantity in the absence cnf an effective price floor? P=$ 5 0Q: 25 Ounits b. What is the new price and quantity.' if a price oor is set at $6.00? P=$Eoo= We C. Is the price floor at $6.00 effective? a d. What is the new price and quantity if the price floor is set at $3.00? P=$ 3Q= 15 Qunits e. Is the price floor at $3.00 effective? a f. When the price oor is effective, what happens to the quantity transacted in the market? Decreases

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