Part II 1. Let Q, stand for the quantity demanded, Q: stand for the quantity supplied, and P stand for price. If Q: =20- 2P and Q: = 5 + 3P, determine the equilibrium price. 2. The table shows Max's, Igor's, and Liza's demand schedules for potatoes. Assume that Max, Igor, and Liza comprise the entire market and complete the table by calculating the market demand schedule. Price Quantity demanded (kilograms per week) (EUR per kilogram) Max Igor Liza Market E0.50 10 4 10 0.75 9 7 ON 1.00 4 1.25 0 1 Label the x-axis and y-axis. On the diagram below, draw the market demand curve. 3. The demand for hamburgers is given by Q. = 8,000 - LOSEINI 7,000P, where Q: is the quantity demanded and P is the price of a hamburger. The supply for hamburgers is given by Qs = 4,000 + 1,000P, where Q, is the quantity supplied