Question 1 8 pts The graph shows a market at equilibrium price $600 and equilibrium quantity 300 where demand curve intersects supply curve. Short answer 1. for question 1 Harm for product I S 1100 Won {5) D 100 200 300 4'00 500 500 Quantity Use graph shown above to help you answer questions a-d. a] Choose a binding "price ceiling" on this market. b) Describe two long run disadvantages of imposing price ceiling on a product. c) What is producers surplus at 100m unit of output. cl) Describe a good or a service that might rationalize imposition of a price ceiling for. Briey explain why you chose that good or service