SHOW ALL WORK. FOLLOW INSTRUCTIONS CAREFULLY

\fThe demand function for coffee is given by DC = 710 8PC + 0.2Pt and that for tea is given by D; = 320 5Pt + 0.6Pc where PC is the price of coffee and Pt is the price of tea. The respective supply functions are Sc 2 20 + 1PC + 21% and St=20+2Pt+6wt where 106 and w; are the indexes of weather conditions affecting production of coffee and tea respectively. a) Write an expression for the equilibrium P: as a function only of wC and wt. Note: you have to round the constant and both coefficients correctly to 2 digits in order for Variate to mark parts a and b correct. b) Write an expression for the equilibrium P: as a function only of we and w. Calculate the comparative-statics effects on: 8P: awe c) Equilibrium P: of changes in weather conditions variable, , and on !__#