Consider the market for housing in Wonderland. Demand schedule is P=3,400,0003QD and supply schedule is P=200,000+2Qs. a. (3 marks) Find the equilibrium price (\$) and equilibrium quantity of the market. b. (17 marks) To make housing market equilibrium price decrease by $240,000, the government of Wonderland is considering the following policies: Plan A: Control the qualification of being able to buy housing such that the demand drops by 200,000 Plan B: set price ceiling at $1,240,000 Plan C: set price floor at $1,240,000 Plan D: collect tax $600,000 from buyer. Plan E: collect tax $600,000 from seller. Which plan(s) can make the government achieve the policy target? Explain with market equilibrium quantity, market equilibrium price and proper figures. Consider the market for housing in Wonderland. Demand schedule is P=3,400,0003QD and supply schedule is P=200,000+2Qs. a. (3 marks) Find the equilibrium price (\$) and equilibrium quantity of the market. b. (17 marks) To make housing market equilibrium price decrease by $240,000, the government of Wonderland is considering the following policies: Plan A: Control the qualification of being able to buy housing such that the demand drops by 200,000 Plan B: set price ceiling at $1,240,000 Plan C: set price floor at $1,240,000 Plan D: collect tax $600,000 from buyer. Plan E: collect tax $600,000 from seller. Which plan(s) can make the government achieve the policy target? Explain with market equilibrium quantity, market equilibrium price and proper figures