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QUESTION 2115 MARKS) Using demand and supplg,r curves, examine the effects on the equilibrium price and quantity in each of the following events: (a) Government

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QUESTION 2115 MARKS) Using demand and supplg,r curves, examine the effects on the equilibrium price and quantity in each of the following events: (a) Government sets a price ceiling on Covid-l9 screening test kits to make them accessible and affordable to all citizen in Malaysia. (5 marks) (b) Due to the increasing Covid-19 cases, the government is encouraging the citizens to wear the N95 mask instead of the 3-ply medical mask. (Note: Analyse based on the 3-ply medical mask market.) (5 marks) (c) The producers of COVID-l9 vaccines expect the price of Sinovac COVID-IQ' vaccine to rise upon the validation of this vaccine by the World Health Organisation (WHO) for emergency use on 1 June 2021

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