The market demand for paper clips is ! = 50 0.5. The market supply for paper clips is " = 20 0.5. a) What is the equilibrium price and quantity of paper clips in this market? b) Plot and label the supply and demand curves for paper clips. c) A breakthrough in paper clip manufacturing technology is discovered which reduces every paper clip manufacturing firm's marginal cost by $20. Plot the new curve(s) on your plot from part b. What is the new equilibrium price and quantity