A market is described by the following supply and demand curves: QS=2P and QD =300-2P a. Solve for the equilibrium price(in $) and quantity. b. Two policies have been suggested to the government i) a price floor of $90 or a ii)price ceiling of $90. Which policy government can take and why? c. For the adopted policy in b) what will be the price, quantity demand, quantity supply, shortage and surplus?

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