Suppose That a $5

Suppose that a $5.50 price floor is imposed on a corn market whose equilibrium price was $4.50 per bushel. Which of the following will happen?

A) There will be an excess demand of corn at $5.50.
B) The profits of all corn farmers will increase by $1 per bushel.
C) There will be an excess supply of corn at $5.50.
D) The equilibrium price of corn will fall below $4.50 per bushel.
E) The excess supply at $5.50 will fall to zero as the equilibrium price increases to $5.50.