I'm working on practice problems. How would you approach this problem? Suppose the demand for towels is Qd=100-5P, and the supply of towels is given by Qs=10P.

a. Derive and graph the inverse supply and the inverse demand curves.

b. Solve for equilibrium price and quantity.

c. Suppose supply changes so that at each price, 20 fewer towels are offered for sale. Derive and graph new inverse supply and demand curve.

d. solve for the new equilibrium price and quantity. How does the decrease in supply affect the new equilibrium price and quantity sold?