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0The demand for a product is Q - 800 -5P and supply is Q 100+2P The market-clearing price is Sand the market- dlearing quanity units.(Enter your responses as whole numbers.J amd Consumers complain that this price amounts to price gouging and successfully lobby the govemment to set a price celing of $60 for the product. As a result, duct consumers will want to consume units while producers will want to sell onlyEnter your responses as whole numbers ) As a result of the price ceilling, there will be a ofunits e will
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Answer #1

Market clearing price and quantity can be determined at a point where

Demand= Supply

ー 一 ス 2 800-5?ma ke cei 车6 300 5( loota(60) z 2 aao

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