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The table below presents the demand and supply of plywood from a typical home building supply store in Florida. When Florida is threatened by hurricanes,

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The table below presents the demand and supply of plywood from a typical home building supply store in Florida. When Florida is threatened by hurricanes, the typical demand for plywood increases by 900 sheets at every price. Imagine Florida passes a "price gouging" law that prevents home building supply stores from raising the price of plywood when hurricanes threaten. Price Initial Quantity of Initial Quantity of New Quantity of (dollars) Plywood Demanded Plywood Supplied Plywood Demanded (sheets) (sheets) sheets) $10 5,000 2,900 5,900 11 4,900 3,100 5,800 12 4,800 3,300 5,700 13 4,700 3,500 5,600 14 4,600 3,700 5,500 15 4,500 3,900 5,400 16 4,400 4,100 5,300 17 4,300 4,300 5,200 18 4,200 4,500 5,100 19 4,100 4,700 5,000 20 4,000 4,900 4,900 21 3,900 5,100 4,800 If the "price gouging" law goes into effect, the result of the law during hurricane season will be surplus of 900 sheets of plywood. shortage of 900 sheets of plywood. surplus of 700 sheets of plywood. shortage of 700 sheets of plywood

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