Scenario 6-2
Suppose demand for a product is given by the equation 
and supply for the product is given by the equation 
-Refer to Scenario 6-2. Suppose the government sets a price floor at $13 for this product. Initially, is this price floor binding? Suppose that for some reason demand were to decrease to 
Would the $13 price floor be binding after the shift in the demand curve? If so, what is the size of the resulting shortage/surplus?
Definitions:
Intrusive
Involving an unwelcome or uninvited interference or intervention in a personal or private matter.
Contaminated
The state of being impure or polluted by harmful substances, bacteria, or pathogens.
Panic Attack
A sudden onset of intense fear or discomfort, characterized by symptoms like heart palpitations, sweating, and feelings of doom.
Intense Apprehension
A strong feeling of anxiety or fear about something that is happening or might happen.
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