Question: May I please have some help with the problem in the attached screenshot? Using the demand function, Q = 8.56 - p - 0.3ps +

May I please have some help with the problem in the attached screenshot?

May I please have some help with the problem in the attached

Using the demand function, Q = 8.56 - p - 0.3ps + 0.1Y, and the supply function, Q=9.60 + 0.5p - 0.2Pc. determine the amount of any excess demand or excess supply at a price of $4 and explain the mechanism that would cause the equilibrium price to be reached. Let Y = $55 (thousand), Ps = $0.2, and Pc = $5. Given these prices, the quantity demanded is Q = units. (Enter your response rounded to one decimal place.) Given these prices, the quantity supplied is Q = units. (Enter your response rounded to one decimal place.) Therefore, at a price of $4, there will be an excess of units. (Enter your numerical response rounded to one decimal place.) As a result, O A. firms unable to sell their units will lower their price. O B. consumers with greater supply will pay higher prices. O C. firms unable to sell their units will raise their price. O D. consumers unable to buy units will offer higher prices

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