Consider the market for mobile phones where the market demand and market supply curves are given by the equations below. P is the price of Q and Q is the quantity produced:

Consider the market for mobile phones where the market demand and market supply curves are given by the equations below. P is the price of Q and Q is the quantity produced: Demand: P = 1,000 - 10 * QD Supply: 200 + 10 * Qs 1. Given the above information, find the equilibrium price and quantity in this market. (1 point) Suppose that the government decides to regulate this market and imposes a price floor equal to $700. 2. Given this information, find the dead weight loss (DWL). (2 points) 3. Find the producer surplus (PS) and graph all your finding. (2 points)