The following table shows the demand and supply schedules for face masks in the country.

Use it to answer questions a - e.

Price per face mask Quantity Demand Quantity Supplied

R10 1300 100

R15 100 500

R20 700 700

R25 400 1200

R30 100 1500

a. What are the equilibrium price and quantity of face masks? (1 Mark)

b. Assume that suppliers of face masks complain to government that at the ongoing market price, it is impossible to meet their production costs. Government decides to impose a price floor of R5 above the equilibrium price. What is the new market price? (2 Marks)

c. How many face masks are sold? (2 Marks)

d. How many face masks are bought? (2 Marks)

e. What is the amount of surplus experienced in the market for face masks? (2 Marks)