The demand and supply equations for the peach market are:

The demand and supply equations for the peach market are:
Demand:  P = 24 - 0.5Q
Supply:     P = -6 + 2.5Q
 where P = price per bushel, and Q = quantity (in thousands).

a.Calculate the equilibrium price and quantity.
b.Suppose the government guaranteed producers a price of $24 per bushel. What would be the effect on quantity supplied? Provide a numerical value.
c.By how much would the $24 price change the quantity of peaches demanded? Provide a numerical value.
d.Would there be a shortage or surplus of peaches?
e.What is the size of this shortage or surplus?  Provide a numerical value.