1. Numerical analysis of supply and demand: Suppose you are the new bay area pricing analyst for Uber and you are trying to acquaint yourself with the market for which you will be responsible. Answer the following questions, which provide information on the market for an "average\" San Francisco Uber ride for Sunday mornings, with the demand and supplyfunctions given below: od 2 1843509 + 2.0L (1) o, =409100 (2) where P is the price per mile for an Uber, PL is the price for the same \"average\" ride on Lyft, and ad and Q; are the quantity demanded and the quantity supplied of Uber rides. [a] Find the inverse demand and inverse supply equations. (bl Assuming that P; = 26, graph (inserse) supply and {inverse} demand forthe market with a clearly labeled graph and calculate the equilibrium price {P*] and quantity [Q*] for the market. Be sure to find and graph the points where the curves intersect the axes. (c) What are the slopes of the demand and supply curves that you graphed in part (b)? {d} Use caEculus to find an expression for the impact of a small price change by Lyft on the quantity demand of Uber rides (note: we are asking only about the shift in the demand function, not the change in the equilibrium quantity}. Provide a brief interpretation ofyour numerical result (no more than two sentences). {e} Now suppose that your boss discovers that Lyft is planning on introducing a promotional campaign that will reduce the price they charge for an "average\" ride to 51 (PL 2 1). Your boss is worried this will seriously impact the market for Uber's services. Calculate the new equilibrium price {10* *l and quantity (Q* *l for U ber's rides and illustrate the changes on your graph from part (a)