IAnswer all of the following for Problem 1. l. 99"?" l-hg'bp. Demand and supply conditions in a market are specied as follows: D={@Am=32-Q&L05q55m S= {(%P)|P=2+0.1q2,05q550} Determine the market-equilibrium quantity. 50 Determine the market-equilibrium price. 7 Determine the revenue of sellers (and the expenditure of buyers) at the market equilibrium 350 Determine the total benet of buyers at the market equilibrium. 625 Determine the buyers' surplus at the market equilibrium. 625 Roughly estimate the total cost of sellers at the market equilibrium. Explain how you obtained your estimate. 350 Estimate the sellers' surplus (or prot) at the market equilibrium. Explain how you obtained your estimate. 0 Answer all of the following for Problem 2. 2. eeces Demand conditions in the market change, while supply conditions stay xed. The new market conditions are specied as: D= {(q,p)|p=52-0-5q.05q550} S= {(ap)lp=2+0-1q2.03q550} Determine the new equilibrium quantity in the market. Determine the new equilibrium price in the market. Determine the new equilibrium sellers' revenue (and buyers' expenditure) in the market. Determine the new total benet of buyers at the market equilibrium. Determine the new buyers' surplus at the market equilibrium. As a result of the new market conditions, does the sellers' equilibrium total cost increase, decrease, or stay constant? Explain your answer. As a result of the new market conditions, does the sellers' equilibrium surplus (or prot) increase, decrease, or stay constant? Explain your