Given the following two equations: Q d = 150 – 3P Q s = 70 + 2p A- Using the above two equations to find the values of Qd, Qs, the market situation (Shortage/Surplus/Equilibrium), and the Value of...

Given the following two equations:

                                                            Q_d
 = 150 – 3P

                                                             Q_s
= 70 + 2p

A- Using the above two equations to find the values of Qd, Qs, the market situation (Shortage/Surplus/Equilibrium), and the Value of shortage or surplus if any, at the following prices:

10, 15,20 and 25.

B- If the consumer income increases by 20%, what will happen to the equilibrium price and quantity?