The supply and demand for wheat are given by 52) QS= 20 + 100p

QD = 4000 - 100p +10Y

Where Y is the average consumer income.

a. How does the equilibrium quantity change with respect to average consumer income, all other things being equal?

b. Solve for the equilibrium price and quantity as functions of the consumer income Y.

c. Compute the comparative statics of the equilibrium price and quantity with respect to income.