1) What is the equilibrium price and quantity based on the following demand and supply equations? Solve by putting Qd = Qs Qd = 10 P Qs = P Quantity is given from 0 to 10 units on the x-axis. Price is given from $0.00 to $10.00 on the y-axis. Plot the Supply and Demand curves. 2) Now draw the Demand and Supply curves using the following Demand and Supply Schedule: Demand Schedule: Q'P Supply Schedule: Q|P 0| 0| 1| 1| 2| 2| 3| 3| 4| 4| 5| 5| 3) From number 2, draw a graph and call equilibrium Point A. Illustrate on the graph what will happen to the Demand curve when consumers' income increases