What price results in the efficient quantity?

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The Price ceiling is the law that sets a maximum price below the equilibrium market price but a pri Show more The Price ceiling is the law that sets a maximum price below the equilibrium market price but a price floor is the law that sets a maximum price above the market equilibrium price. Using the data in the table below determine the value in the Surplus (+) or Shortage -Identify whether the number is a surplus shortage or neither. -What is the efficient quantity? -What price results in the efficient quantity? Using the data from the table draw graphs of a demand and supply curve and indicate the point of equilibrium utilzing this graphing tool and post the result http://goo.gl/keEOXW -if the price of the ceiling is established at $8. Does a surplus or shortage result? What is the amount of surplus or shortage? -if the price of the ceiling is established at $12 What is its effect? -if the price of the floor is established at $12 what is the effect. Show less