Suppose that the Gondwanaland Chairman of Production who sets the governmental price floor for gosum berries, in an effort to assist the gosum berry producers to have a higher income, set the price floor at $70 per barrel. These berries are a food staple of the Gondwanalandians and contributes directly to their health and long life (average lifespan of 150+ active years). In that particular year the amount of gosum berries produced at the $70 price oor was 700 barrels per month. To support the price of gosum berries, the Chairman of Production's Office had to purchase 400 barrels per month. The accompanying diagram shows supply and demand curves illustrating the market for Gondwanaland gosum berries. GDHDWANALAND GDSUM BERRY MARKET .Supplied .Demanded son son 7m 5m: 1000 non QUANTITY