Question: Show work and steps. 3. The demand and supply functions of a product is given by: (10 points) Demand: p=6- x Supply: p=3+2x (a) At

Show work and steps. 3. The demand and supply functions of a Show work and steps.

3. The demand and supply functions of a product is given by: (10 points) Demand: p=6- x Supply: p=3+2x (a) At what price does this market reach equilibrium? (b) If the market price is $4, will there be a shortage or surplus of the products in the market? Clearly explain your

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