Suppose in a Market With $Q ^ { d } = 100 - 5 P \text { and } Q ^ { s } = 5 P$

Multiple Choice

Suppose in a market with $Q ^ { d } = 100 - 5 P \text { and } Q ^ { s } = 5 P$ , the government imposes a price floor of $15. If the government is required to purchase any excess supply at the price floor, how much will the government have to pay to purchase the excess in this market?

A) Nothing; there is no surplus
B) $1,000
C) $1,500
D) $750