1. Given the quadratic supply and demand functions, determine the equilibrium price

and quantity.

P=Q_s² + 2Q_s +12

P= -Q_D² - 4Q_D + 68

2 Given

C = 0.8Y + 80

I = 70

G = 130

X = 100

M = 0.2Y + 50

Find

(I) The reduced form

(II) Determine the equilibrium level of income using reduced form.