21813 The general demand and supply functions for good A are estimated to be, respectively: Q\

2-18F The general demand and supply functions for good A are estimated to be, respectively: Q, = 52.50 - 2.OP+ 0.0150M + 7.OOP Q -500.0+8.OP where Q E is quantity demanded per month, Qs is quantity supplied per month, P is price of good A, M is average household income, and PR is the price of a related good R Assume the following values of the shift variables: M S42,500, and PR = S30. a. b. c. d. e. The equation for INVERSE demand is The maximum price at which 500 units of good A can be sold is The minimum price producers will accept to supply 500 units of good A is If price is S150, units of good A. The market clearing price of good A is S (a shortage, a surplus, equilibrium) occurs of