estions: Anti-virus software. As a result, government impose a price ceiling $7. What is the new market price? How many Anti-virus software are sold? What situation it will causes? Explain with a graph.

Principles of Microeconomics
7th Edition
ISBN:9781305156050
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter6: Supply, Demand And Government Policies
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A recent study found that the demand and supply schedules for Anti-virus software are as follows:

Price per Anti-virus Software Quantity Demand Quantity Supply
11$ 1 million Anti-virus software 15 million Anti-virus software
10 2 12
9 4 9
8 6 6
7 8 3
6 10 1

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Anti-virus software. As a result, government impose a price ceiling $7. What is the new market price? How many Anti-virus software are sold? What situation it will causes? Explain with a graph.

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