Consider the Market for Iron Ore,an Important Industrial Input

Consider the market for iron ore,an important industrial input.Suppose the government sets a price floor below the free-market equilibrium price.The result will be

A) a continuation of the free-market equilibrium price and quantity.
B) the quantity demanded will exceed quantity supplied and there will be a shortage in the market.
C) the quantity supplied will exceed quantity demanded and there will be a surplus in the market.
D) a new free-market equilibrium at a lower price and higher output level.
E) increased government revenue.