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Please show all your, thank you! 1. Suppose the demand curve for a product is given by Q = 300 - 2P + 41, where

Please show all your, thank you!

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1. Suppose the demand curve for a product is given by Q = 300 - 2P + 41, where I is average income measured in thousands of dollars. The supply curve is Q = 3P - 50. a. If I = 25, find the market-clearing price and quantity for the product. b. If I = 50, find the market-clearing price and quantity for the product. c. Draw a graph to illustrate your answers

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