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Potato Market Price ($/1b) Supply 6 5 Demand 200 250 350 Potato (Ibs) The figure above shows the market supply and demand for potatoes (in

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Potato Market Price ($/1b) Supply 6 5 Demand 200 250 350 Potato (Ibs) The figure above shows the market supply and demand for potatoes (in pounds). The market is initially in equilibrium at a price of $5/pound and a quantity of 250 pounds. Suppose the government introduces a price support program for farmers by placing a floor on the price of potatoes at $6/pound. What is the impact on the potato market? There is no impact, the price floor is not binding. There is a shortage of 150 pounds. O There is a shortage of 100 pounds. There is a surplus of 150 pounds

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