The equilibrium price and quantity alge

    The demand and supply curves of cars are the following: Qd = 160 - 8p Qs = - 20 + 2p a. Calculatetheequilibriumpriceandquantityalgebraically.(10%) b. Assumethatthepriceofgasolinegoesupovertime.Howwillthisaffectthemarketofcars?(explaininwords,noneedfor calculations) (10%)