In Smalltown, Pennsylvania, the demand function for men's haircuts is Qd = 500 - 30p + 0.08Y, where Qd is quantity demanded per month, p the price of a haircut, and Y the average monthly income in the town. The supply function for men's haircuts is Qs = 100 + 20p - 20w, where Qs is the quantity supplied and w the average hourly wage of barbers. a. If Y = $5,000 and w = $10, calculate quantity demanded and quantity supplied for p = $5, $10, $15, $20, $25, and $30. Calculate excess demand for each price. (Note that an excess supply is negative excess demand.) Determine the equilibrium price and quantity. draw the demand and supply curves. b. Assume that Y increases to $6,875 and w increases to $15. recalculate quantity demanded, quantity supplied, and excess demand for p = $5, $10, $15, $20, $25, and $30. Determine the new equilibrium price and