The market demand and supply functions of surgical face masks are given as: (a) (M Q\" = 240 40p QS = 4013 Find the equilibrium price and equilibrium quantity of face masks in the market and show the equilibrium using a diagram. [3 marks] At 0\" = 200, (i) Find the point price elasticity of demand for face masks at this quantity. [2 marks] (ii) At this point, producers plan to reduce price of face masks to raise their revenue. Will this strategy work? Comment your answer without the support of calculation. [2 marks] In the wake of the pandemic recently, the government decided to provide a subsidy of $1 for each unit of face mask. Find the followings: (i) the new supply equation. (ii) the price that consumers need to pay for the face mask in the market. (iii) the price that producers receive after the provision of the subsidy. (iv) the quantity of face mask traded in the market. (v) the total amount of subsidy the government needs to provide to help its residents to afford face mask. (vi)Sketch a diagram to show all the above effects of the subsidy on the market of face masks. Make sure you label your diagram fully