Refer to the figure to answer the following two questions. P 500 450 400 350- 300 250 200 150 D 100 50 Q 0 35 70 105 140 175 210 245 280 315 350 385 420 455 490 525 1) If the government imposes a binding price floor of $350.00 in this market, what is the result? a. There will be a units. b. The redistribution of surplus from consumers to the producer is equal to $ c. The deadweight loss due to price floor is $ 2) If the government imposes a binding price ceiling of $100.00 in this market, what is the result? a. There will be a units. b. The highest price that would be charged in a black market is $ c. The deadweight loss due to price ceiling is $Wage Rate Quantity Supplied Quantity Demanded ($ per hour) ( hours per week) (hours per week) 15 3600 600 14 3300 900 13 3000 1200 12 2700 1500 11 2400 1800 10 2100 2100 LO 1800 2400 The table gives the supply and demand schedules for teenage labour in Genoa City. Suppose the Genoa City Council sets a minimum wage of $13 per hour. Teenage unemployment is hours