A research firm recently provided a firm’s Marketing Manager with the estimate of the demand and supply functions for it

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A research firm recently provided a firm’s Marketing Manager
with the estimate of the demand and supply functions for its
product X as: Where Px is the price of commodity X; PM is the price
of commodity M = ¢15; PN is the price of commodity N = ¢50.00; Y is
the income = ¢40,000.00; A is the advertising expenditure =
¢10,000.00; PL is the average price of unskilled labour =
¢80
Requirements:
a.Find the equilibrium price and quantity for the product X.
b.Graph both demand and supply for product X
c.Which product in the demand function is a substitute for
product X? Explain.
d.If income falls by ¢5,000, find the new equilibrium price and
quantity. Will equilibrium price and quantity increase or decrease?
Explain