Suppose the demand for Car is given by Qd = 1000-0.5P  and that the supply of Car is given by Qs=2P-300 . a. Solve for the equilibrium price. Plug the equilibrium price back into the demand equation and solve for the equilibrium quantity. b. Draw a diagram, depicting supply and demand. c. Suggest a method how you can check your result from A and implement it. Is your result that you gave in A) correct? d. Calculate the Consumer Surplus for the given setting.

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