The table gives the demand and supply schedules for sunscreen.

Quantity Quantity Price demanded supplied

(dollars per bottle) (bottles per day)

0 400 0 5 300 100 10 200 200 15 100 300 20 0 400 Sunscreen factories are required to limit production to 100 bottles a day.

a. What is the maximum price that consumers are willing to pay for the 100th bottle?

b. What is the minimum price that producers are willing to accept for the 100th bottle?

c. Describe the situation in this market.