2. The demand equation for blue jeans in the U.S. is Q, = 500 -7P + 0.002Y, and the supply equation for blue jeans is Qs = 20 + 3P - W, where P is the price per pair of blue jeans, Q, and Qs are in 1,000's of blue jeans, Y is average consumer income, and W is average hourly wage of labor in the garment industry. a. With average consumer income at $30,000 and average hourly wage in the garment industry of $10, what do blue jeans sell for in the U.S.? (2 points) b. consumer income at $30,000 and average hourly wage in the garment industry of $10, how many blue jeans are purchased in the U.S.? (2 points) c. Are blue jeans an income normal or income inferior good? What economic reasoning are you using to get your answer? (2 points)