Consider the market for Headphones.There are two types of consumers in this market. Type 1 and Type 2 with the following inverse demand functions:Type 1: P = 200 - 0.5Q Type 2: P = 100 - 1.5QThere are also two types of producers with the following supply functions:Type 1: Q = 1.5P - 60 Type 2: Q = 2.5P - 55In addition to solving this problem algebraically, provide graphs. All graphs can be displayed on the one set of coordinates below.a. Find the equilibrium price and quantity levels in market for Headphones.b) Suppose that there is a new technology that reduces the cost of manufacturing of the Headphones by $18. Find the new equilibrium. Add new relevant curve(s), and new equilibrium price and quantity to the graph above.