QUESTION 1 100 points View Rubric Save Answer Quiz Week 2 - Please submit your spreadsheet to answer questions 1 & 2. You must use EXCEL processes shown in this course, and I need to be able to follow and understand your spreadsheet work. Use textboxes to explain your work and answer the questions. 1. The demand function for tripods is given by q= -25p+ 1123 while the supply function is given by q=195p-700 where p is the price in dollars and q is the quantity in hundreds. a. Find the market equilibrium and interpret your answer using a complete sentence within the context of the problem. b. At a price of $10, will there be shortage or a surplus and by how many? 2. The record for the soapbox derby in Cityville can be approximated by the function given below, where R(t) represents the number of minutes required to complete the course and t is the number of years since 1964. 0.02t2 - 3.5t +215.13 Ost