3. The inverse demand for flavored tobacco products in California is given by P = 30 - =Q, where Q is the quantity of flavored tobacco products in thousands and P is the price of a flavored tobacco product. The inverse supply of flavored tobacco products is given by P= - Q5 where QS also measures thousands of flavored tobacco products. a. Solve for the equilibrium price and quantity. b. What is the choke price (the price when each side enters the market) i. for consumers? ii. for producers? c. Find the value of the consumer surplus for flavored tobacco product consumers. (Hint: It may help to draw a graph or use your choke price calculation.) d. Find the value of producer surplus received by flavored tobacco product producers. (Hint: It may help to draw a graph.) e. Suppose California bans flavored tobacco product sales (https://www.cdph.ca.gov/Programs/CCDPHP/DCDIC/CTCB/Pages/CAFlavorTobaccoLaw.aspx), which changes the inverse supply and that the new inverse supply is given by P= 15 + Qs. Calculate the impact of this change in supply on the values you calculated in part (a) through (d). f. Use consumer and producer surplus to describe whether consumers and producers of flavored tobacco products are better off or worse off as a result of the ban