ECON 311-Fall 2022 Question 3 Problem Set The stimated demand function and the estimated mpply action for rice in Vula are the following Q-30-2 P Q-10+2-P where P is in dollars per kg and Q is in milline of g (0) Calculate the equilibrium price and quantity 10+20-50-2p 10+&p=50 Q=50-2010) p=10 Q:30 (i) The government imposes a price ceiling at the price of $5. What is the effect of the price eiling Identify the price and quantity exchanged in the market (iii) Instead of the price ceiling, the government chooses to provide a subsidy to the producers of $5 per kg (a) What are the price that consumers pry, the price that producers receive and the quantity exchanged in the market?