Use the equations above as well as your answers from question 1 above to answer the following questions.

Subsequently, the supply of pears function changed to Qs₁ =-80 + 10P while the demand function remained unchanged.

(a)Calculate the new equilibrium price and equilibrium quantity in the market for pears. Show your workings.

(1 mark)

(b)Identify and explain one possible reason for the change in the equilibrium price and quantity of pears. Be specific.