Question: QUESTION 2115 MARKS) Using demand and supplg,r curves, examine the effects on the equilibrium price and quantity in each of the following events: (a) Government

QUESTION 2115 MARKS) Using demand and supplg,r curves, examine the effects

QUESTION 2115 MARKS) Using demand and supplg,r curves, examine the effects on the equilibrium price and quantity in each of the following events: (a) Government sets a price ceiling on Covid-l9 screening test kits to make them accessible and affordable to all citizen in Malaysia. (5 marks) (b) Due to the increasing Covid-19 cases, the government is encouraging the citizens to wear the N95 mask instead of the 3-ply medical mask. (Note: Analyse based on the 3-ply medical mask market.) (5 marks) (c) The producers of COVID-l9 vaccines expect the price of Sinovac COVID-IQ' vaccine to rise upon the validation of this vaccine by the World Health Organisation (WHO) for emergency use on 1 June 2021

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