Let us assume that the demand equation for a personi and for a good is [if = 2m] 100 + 0.21,; 9P d . . . . ., . . . where d:- Is the quantity demanded for person i, I; Is person a s Income, and P Is the COH'II'TIDdItYJS price. (Note that P is constant across individuals, since all individuals face the same price. Therefore no'i subscript is needed} For the firms in this area the supply function for this good is: 5; = 150 200 + 2013 where (I; is the quantity supplied of the good by rm j {Note that a different subscript is needed] There are 5 rms and 100 consumers. Total income of the consumers is 1004000$. Equilibrium occurs where: l " i=1 (1;) Z 2;] '9'; [i.e.. market demand equals market supply]; Find the equilibrium price. 0 210.25 0 29.75 0 30.25 0 30.25 D 20.75