The table below represents the market for bushels of wheat. Suppose there is a price floor set at $12 for a bushel of wheat. Calculate the surplus caused by the price floor. Price Quantity Supplied Quantity Demanded $3 1,100 21,100 $6 6,300 16,300 $9 11,500 11,500 $12 16,700 6,700 $15 21,900 1,900 Provide your answer below: bushels of wheatDuring a back-to-school shopping frenzy, a price ceiling of $5 is put on a pack of pencils. Calculate the shortage caused by the price ceiling. Price Quantity Supplied Quantity Demanded $4 100 860 $5 280 660 $6 460 460 $7 640 260 $8 820 60 Provide your answer below: packs of pencils