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Yell-O Yew-Boats, Ltd. produces Blue Meanies. Consider the demand and supply equations for Blue Meanies:
Qdx=150-2Px+0.001M+1.5PyQxd=150-2Px+0.001M+1.5Py
Qsx=60+4Px-2.5WQxs=60+4Px-2.5W
where QxQx is monthly per family consumption of Blue Meanies, PxPx is the price per unit of Blue Meanies, M median annual per family income $25,000$25,000, PyPy is the price per unit of Apple Bonkers $5.00$5.00, and W the hourly per worker wage rate $8.60$8.60.
The equilibrium price is $
The equilibrium quantity is?
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