There is a market for a product with exogenously determined demand function and product supply function: (a)

There is a market for a product with exogenously determined demand function and product supply function:

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(a) ya (p) = -ap + b, a, b>0, ys (p) = cp +d, c, d > 0, b>d, (b) ya (p) = ap + b, a,b>0, y (p) = cpz +d, c, d > 0, b> d. 1. Determine the ranges of a product price, demand for the product, the product supply. 2. Draw graphs of the demand function and the supply function in space R. 3. Determine an inverse function of demand and a function inverse to a given demand function. Draw their graphs in space R. 4. Derive an equilibrium price by which yd (p) = ys (p), that is a price that equalizes the demand for a product and the product supply both expressed in the same physical units