The following graph shows the annual market for Florida oranges, which are sold in units of 90-pound boxes.
Use the graph input tool to help you answer the following questions. You will not be graded on any changes you make to this graph.
Note: Once you enter a value in a white field, the graph and any corresponding amounts in each grey field will change accordingly.

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PRICE (Dollars per box)
QUANTITY (Millions of boxes)
Demand
Supply
Graph Input Tool
Market for Florida Oranges

Price
(Dollars per box)


Quantity Demanded
(Millions of boxes)

Quantity Supplied
(Millions of boxes)

In this market, the equilibrium price isper box, and the equilibrium quantity of oranges ismillion boxes.
For each price listed in the following table, determine the quantity of oranges demanded, the quantity of oranges supplied, and the direction of pressure exerted on prices in the absence of any price controls.
Price
Quantity Demanded
Quantity Supplied
Pressure on Prices
(Dollars per box)
(Millions of boxes)
(Millions of boxes)
30
20
True or False: A price ceiling below $25 per box is a binding price ceiling in this market. (Economists call a price ceiling that prevents the market from reaching equilibrium a binding price ceiling.)

True
False