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Country A has passed a legislation that citizens must wear face masks in public places due to the outbreak of COVID-19. In view of the
Country A has passed a legislation that citizens must wear face masks in public places due to the outbreak of COVID-19. In view of the above, many business people are setting up new and/or increase production lines to manufacture different styles of facemasks with similar specifications. Q 1.a .According to the above information, what type of market structure is the face masks production firms in the country? What type of profits would these firms make in the long run? Q 1.b . What are the factor(s) affecting the demand of face masks? How is this going to affect the demand curve? Q 1.c.What are the factor(s) affecting the supply of face masks? How is this going to affect the supply curve? Q 1.d what will happen to the ultimate change in equilibrium price (Pe) and quantity (Qe) of face masks in the country
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