Suppose the government is concerned that the equilibrium price of steel does not reflect the needs of buyers and sellers in the steel market depicted in this graph. It implements a price control that alters the equilibrium price of P* to Pnew. Which statement accurately describes the market outcome? Suppose the government is concerned that the equilibrium price of steel does not reflect the needs of buyers and sellers in t Select one: a. If Pnew is a price floor, the price control will cause a surplus of steel in the market b. If Pnew is a price ceiling, the price control will cause a surplus of steel in the market c. If Pnew is a price ceiling, the price control will cause a shortage of steel in the market