Question: Kindly answer question 1 l. (4 points) Electricity use is measured in megawatt-hours (MWh) and prices are measured in dollars per MWh. In one town

Kindly answer question 1

l. (4 points) Electricity use is measured in megawatt-hours (MWh) and prices are measured in dollars per MWh. In one town there are 1,000 households and one factory. Each household's annual electricity demand is D() 200.ng 133200 \"3 0 p>200 The factory's electricity demand is 16,000 100p p g 160 0 p > 160 Df(P) = { (a) Find an equation for the market demand as a function of price. On the graph below, sketch total demand by households, demand by the factory, and market demand. For market demand, label the axis intercepts and the locations of any kink points. (b) Supply is given by 3(1)) = 20039. Sketch this supply curve on the graph below. Find the equilibrium price and quantity

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