This question requires you to solve a supply and demand model algebraically. Letting p be the Brice of the product suppose the demand and supply functions for some product are given by Qd = 100-3p Qs = 10 + 2p A- plot both the demand curve and supply curve. Remember the plot p on the vertical axis and Q on the horizontal axis. B- what is the condition for equilibrium in this market? C- by imposing the condition for equilibrium solve the equilibrium price. D- substitute the equilibrium price into either the demand or the supply function to solve for the equilibrium quarterly. Check to make sure you get the same answer whether you use the demand function or the supply function. E- now suppose there is an increase in demand so that the new demand function is given by Qd= 180 - 3p Compute the new equilibrium price and quantity. F- now suppose that with the new demand curve in place there is an increase in supply so that the new supply function is given by Qs= 90 + 2p. Commute the new equilibrium price and quantity