Quantitative Analysis of Price Ceilings and Price Floors: Finding Points

5. Consumer and Producer Surplus; Price Ceilings and Floors / Quantitative Analysis of Price Ceilings and Price Floors: Finding Points / Problem 5

Problem 5

Given Qd = 2500 - 4P and Qs = 3P + 200, find the quantity demanded and supplied at a price ceiling of \$300.

Qd = 1200, Qs = 1300

Qd = 1500, Qs = 1200

Qd = 1300, Qs = 1100

Qd = 1400, Qs = 1000