P ($) 80 70 60 50 40 30 20 10 0 10 20 30 -10 -20 440 50 Q 8. 60 70 80 90 100 110 120 The demand curve is given by Qd = 100 - 2P and the supply curve is given by Q = 40 + 4P. 1. The market equilibrium price is $ (be precise and show your work below) (be precise and show your work below) 2. The market equilibrium quantity is, 3. Draw the demand curve. (be precise and show the vertical intercept and correct slope) 4. Draw the supply curve. (be precise and show the vertical intercept and correct slope) 5. Show the market equilibrium price and quantity. (be precise)