By now it is very easy to findfacemasks;however, at the beginning of the pandemicfacemaskswere scarce. Retailers were charging up to $10 for a single-use disposable face mask.

Suppose a law is passed that caps the price of a single-use disposable face mask at $2.50.

1. Draw a basic supply and demand curve for facemasks.
2. Explain the impact the new law would have on the facemaskmarket, and illustrate it on your graph.
3. who benefits from the new law?
4. What economic concept is illustrated by this problem?