Open question:

2. The aggregate demand is given by the equation 03 = 3,400 400139 + 601 10PM, where 03 represents the market quantity demanded in thousands of gallons per week, I equals the household income in 1,000s, and Pam equals the average price of an automobile in 1,000s. Assume that the household income is 50, and the price of automobiles is 20. Determine the equilibrium price and quantity of gasoline in this market and identify the exogenous variables