The market equilibrium price of corn is $50 per bushel and 100 bushels are sold.

a) Depict this in a demand and supply diagram.

b) Now the government, under pressure from farmers, imposes a price floor (opposite of price ceiling) in the corn market so that corn now sells for $100 per bushel. What is a price floor? Depict this in the diagram above.

c)At the price floor, the farmers maximize profits by producing 200 bushels of corn. Depict this in the diagram above.

d)Consumers are only willing to buy 200 bushels at a price of $25. Depict this in a diagram