Consumer 1 Consumer 2 Firm 1 Firm 2 Firm 3 Price QD1 QD2 Q51 Q52 Q53 100 70 100 50 40 30 200 60 90 60 50 40 300 50 70 70 70 50 400 30 50 90 80 70 500 20 30 100 100 80 Question 3 : i. What is the equilibrium price in this market? ii. What would happen in this market if a price floor were set at 400? iii. What would happen in this market if a price ceiling were introduced at 100