Market demand is given as Q_D= 210 - 5P.Market supply is given as Q_S= 2P.Which legally imposed price would constitute a binding price ceiling

Name: Market demand is given as Q D = 210 - 5P.Market supply is given as Q S = 2P.Which legally imposed price would constitute a binding price ceiling
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Question

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A binding price ceiling is set below the equilibrium price. The equilibrium price is found by setting Q_D = Q_S: 210 - 5P = 2P, solving gives P = $30. A price ceiling of $25 is below $30, making it binding.

Market Demand Is Given as QD = 210 - 5P

Market Demand Is Given as Q_D= 210 - 5P