\"L7,\" SAID THE JAZZ CAT. In a perfectly competitive market, inverse demand is P'1 = 100 (0'71)2 and inverse supply is P5 = a + (QS)2. a. Draw the supply and demand diagram if a: = 0. b. If instead the equilibrium quantity were (2* = 6, then nd a. c. If 1nstead the ownprice elast1c1ty of demand in equ111br1um were 5, then nd a. QUATTRO. At the current equilibrium in a competitive market for a good, the own price elasticity of demand is 0.4. The equilibrium quantity is Q = 400 units, and the market price is P = 40. An analyst wants to determine the linear approximation of the market demand, Q = A BP, where A and B are constants. Find the values of A and B that are consistent with these data