Study the below graph which shows price floor set by government. Excess supply is denoted by?

q_f to q_f’

The correct answer is option 3: q_f to q_f’

The above figure shows the market supply and the market demand curve for a commodity on which price floor is imposed. The market equilibrium here would occur at price p* and quantity q*. But when the government imposes a floor higher than the equilibrium price at p_f , the market demand is q_f whereas the firms want to supply q_’f , thereby leading to an excess supply in the market equal to qf q’_f.