| 2. Ghana recently accelerated its plan to privatize tens of thousands of state-owned firms. The estimates of the market demand and supply for the goods are given byQd = -2P + 10 and Q. = 2P-2 2 (a) Determine the equilibrium price and quantity (b) Calculate the price elasticity of demand and supply and comment on your results. (c) The government raises a concern that the free-market price might be too high for the consumers and is planning to set a price ceiling of GH¢1.5. What problem will arise out of these concerns from the Government? (d) Briefly explain 3 main effects the above problem will have on the market. (e) Suggest some measures that the Government should adopt to make price ceiling effective. Now suppose the Government imposed a per tax 2 Ghana cedis on the quantity supplied calculate the consumer and producer surplus before and after the imposition of the tax.