Case Study: The Malaysian government has announced the price ceiling on a 3-ply face mask due to the outbreak of Covid-19 in this year .

(a) Briefly describe the changes in the retail price ceiling on a 3-ply face mask before, during and after the implementation of the Movement Control Order (MCO) in Malaysia. (10 marks)

(b) Explain the advantages and disadvantages of the policy.(8 marks)

(c) Show the current ceiling price on a 3-ply face mask in a diagram. (2 marks)