The supply and demand for wheat are given by
Q_S= 20 + 100p
Q_D = 4000 - 100p +10Y
Where Y is the average consumer income.
a.Compute the partial derivative of quantity demand with respect to changes in average consumer income.
b.Solve for the equilibrium price and quantity as functions of the consumer income.
c.Compute the derivatives of the equilibrium price and quantity with respect to income.

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The Answer of The supply and demand for wheat are given by Q_S= 20 + 100p Q_D = 4000 - 100p +10Y Where Y is the average consumer income. a.Compute the partial derivative of quantity demand with respect to changes in average consumer income. b.Solve for the equilibrium price and quantity as functions of the consumer income. c.Compute the derivatives of the equilibrium price and quantity with respect to income.

The Supply and Demand for Wheat Are Given by