What is the Equilibrium Price? What is the Equilibrium Quantity? \\:| Suppose the government imposes a price ceiling of $220 on this good. You should sketch a graph to help you answer the following questions. This price control will be (select from this menu) v This price control will [{select from this menu] v] At the price of $220, how much are consumers willing and able to purchase? C At the price of $220I how much are producers willing and able to sell? \\:I With a price ceiling of $220r how much will actually be bought and sold in the market? I: A price ceiling of $220 Iwill create a shortae of 60 v This price ceiling of $220 will make {select from this menu] v better off. This price ceiling of $220 will make I {select from this menu] v worse off. Price Quantity Demanded Quantity Supplied $20 500 20 $70 450 30 $120 400 40 $170 350 50 $220 300 60 $270 250 70 $320 200 80 $370 150 90 $420 100 100 $470 50 110 $520 0 120