Suppose the figure below represents a local cattle market. What would be the effect on this market of the local government regulating a price floor of $1.40 per pound? The market would have a (1) surplus or (2) shortage of thousand pounds. (Enter your response as a whole number.) 2.40% 2.20- 2.00- Supply 1.80- 1.60- 1.40- Price (dollars per pound) 1.20- 1.00- 0.80- 0.60- 0.40- Demand 0.20- 0 00