Equilibrium price and quantity We are given the market information of phone as below: Price ($) Quantity Demanded Quantity Supplied 200 26,000 12,000 245 23,000 16,000 290 20,000 20,000 335 17,000...

Extracted text: Equilibrium price and quantity We are given the market information of phone as below: Price ($) Quantity Demanded Quantity Supplied 200 26,000 12,000 245 23,000 16,000 290 20,000 20,000 335 17,000 24,000 380 14,000 28,000 a) Define the market demand equation and supply equation. b) Find the equilibrium price and quantity in a market c) Draw the graph to show this market.