Amarket is described by the following supply and demand curves: qs = 3p qd = 400−p the equilibrium price is $ and the equilibrium quantity is . suppose the government imposes a price ceiling of $80. this price ceiling is , and the market price will be $ . the quantity supplied will be , and the quantity demanded will be . therefore, a price ceiling of $80 will result in . suppose the government imposes a price floor of $80. this price floor is , and the market price will be $ . the quantity supplied will be and the quantity demanded will be . therefore, a price floor of $80 will result in .