The following equations represent the annual quantity demanded (Qd) and quantity supplied (Qs) for tickets for Danubiana Museum of Modern Art in Bratislava, Slovakia. Qd = 50,000-1,000P Qs = 10,000+3,000P, where P is the price of a ticket in euros. a) Suppose that there is a price floor of 7 euros per museum ticket in Slovakia. Will there be a surplus or a shortage in the market for tickets for Danubiana Museum of Modern Art? If yes, how large will it be? b) Suppose that there is a price ceiling of 7 euros per museum ticket in Slovakia. Will there be a surplus or a shortage in the market for tickets for Danubiana Museum of Modern Art? If yes, how large will it be? c) Suppose that there is a price ceiling of 20 euros per museum ticket in Slovakia. Will there be a surplus or a shortage in the market for tickets for Danubiana Museum of Modern Art? If yes, how large will it be?

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