"he demand for product X depends on the price of product X as well as the average household income (Y) according to the following relationship Gd): 2 450 30 P + 0.001Y "he supply of product X is positively related to own price of product X and negatively dependent upon W. the price of some input. This relationship is expressed as: st=140+30P3W Given that Y = 10,000 and W = 1, what is the: 1. Equilibrium price? 2. Equilibrium quantity? ' Number ' Suppose that income increases to 20,000 and W remains constant. What is the new: 3. Equilibrium price? ' Number ' 4. Equilibrium quantity? l Number l Assuming that income remains constant at 20.000 and W increases to 6, what is the new: 5: Equilibrium price? ' Number ' 6. Equilibrium quantity? ' Number