3. (28 points) The daily market for cups of coffee at Suzzalo Espresso is given by the following supply and demand equations: Qd = 60 10F and Q5 = 5P. Please answer the following questions about this market: a. (8 points) Solve for the equilibrium price and quantity in this market (in dollars and cups per day). Draw the supply and demand curve and equilibrium point on a graph. Be sure to label your axes. 60-10P=5P 60=l 5P P=$4 Q=20 cups per day P,$ 20 25 Q b. (6 points) What is the consumer surplus in this n surplus? CS=1/2 ($6-$4)*20=$20 PS=1/2 ($4-$0)*20 = $40