←The figure illustrates the market for apples in which the government has imposed a price floor of $12 percrate.How many crates of apples will be sold after the price floor has been imposed?million crates ofapples per year. (Enter your response as an integer)Will there be a shortage or surplus? If there is a shortage or surplus, how large will it be?There will be aofWill apple producers benefit from the price floor?OA. Apple producers who are able to sell their apples at the $12 price per crate will benefitOB. Apple producers who are not able to sell their apples will not benefit.million crates of apples per year. (Enter your response as an integer)OC. Total revenue for apple producers as a group will decrease from $198 million to $192 millionOD. Both a and bOE All of the abovePrice201641814-12-10-6244-4-SupplyDand12 16 20 24 28 32 36 40Quantity initions of crates per year)

The floor price is fixed by the government. Price can not fall below the floor price. Floor price is…

ligure illustrates the market for apples in which the government has imposed a price floor of $12 pem crate million crates of How many crates of apples will be sold after the price floor has been imposed? apples per year. (Enter your response as an integer) Will there be a shortage or surplus? If there is a shortage or surplus, how large will it be? There will be a of milion crates of apples per year. (Enter your response as an integer) Will apple producers benefit from the price floor? A. Apple producers who are able to sell their apples at the $12 price per crate will benefit B. Apple producers who are not able to sell their apples will not benefit. OC. Total revenue for apple producers as a group will decrease from $198 million to $192 million D. Both a and b OE All of the above