Suppose that the U. S. government places a ceiling on the price of a medical drug of $7.

1.) Using the point drawing tool, plot the quantity supplied on the supply line and label it.
2.) Using the point drawing tool, plot the quantity demanded on the demand line and label it.
3.) Using the double arrow line, indicate, via a label, the shortage or surplus.

Carefully follow the instructions above, and only draw the required objects. Suppose that a black market for the medical drug arises, with pharmaceutical firms secretly selling the drug at higher prices.