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Please show all work. The market for tickets to the symphony can be described by the...

Please show all work.

The market for tickets to the symphony can be described by the following demand and supply curves: QD = 20,000 – 90P and QS = 10,000 + 110P

a. What are the equilibrium price and quantity in the ticket market?

b. Lovers of classical music persuade the symphony to impose a price ceiling of $40 per ticket. How many tickets are now sold in the market? Is there a shortage or surplus of tickets---by how many? Does this policy get more or fewer people to attend classical music concerts?

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