7. Chapter 2: Assume that the Supply function for natural gas in a country is: Q = 15.9 + 0.72Pgas + 0.05Poil, while the demand function is: Q = 0.02 - 1.8Pgas + 0.69Poil. Assume that the oil price is $50 per barrel. (The gas quantities are measured in trillion cubic meters and the gas price in $ per thousand cubic meters. But, since the units are measured in different values and quantities, disregard all the measurement units and treat the quantity and prices in the given numbers only). (1 point) Find the equilibrium quantity and price of natural gas. (1 point) Find the demand elasticity for natural gas at equilibrium. (2 points) Estimate the Dead Weight Losses (DWL) when the government controls the gas price to be no higher than 3$ per unit