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The market demand and supply functions for a product are as follows:Qd= 400 – 2PQs= 3P – 50 What would be the impact of a price ceiling at 100, explain ? I found the P= 90, Qd = Qs = 220 but I do not know how to set up price ceiling at 100 as P = 90

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The market demand and supply functions for a product are as follows:Qd= 400 – 2PQs= 3P – 50

What would be the impact of a price ceiling at 100, explain ?

I found the P= 90, Qd = Qs = 220 but I do not know how to set up price ceiling at 100 as P = 90

 
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