he demand for good F is given by Q_D= 920 - 8P, and the supply is given by: Q_S= 2P - 120.

1.What is the equilibrium price and quantity ?

2.2. At a market price of $100, will there is being a shortage or surplus? By how much?

3.3. If the price ofgood F is$110, is there a surplus or a shortage?Will this cause the price to rise or fall?

4.4. Suppose that the price of producing good F increases that leads todecrease supply by 80 units at each price level, what is the new equilibrium price and quantity?