Consider a market for widgets where the demand and supply functions are defined as follows:

Demand: Qd = 100 - 2P

Supply: Qs = 20 + 3P

Where Qd is the quantity demanded, Qs is the quantity supplied, and P is the price of widgets. Currently, the market is in equilibrium. However, suppose the government imposes a price floor that is set above the equilibrium price. Analyze the impact of this price floor on the quantity demanded, quantity supplied, and the market as a whole.

What will be the effect of the price floor on the market for widgets?