Answer: Equilibrium price is $3 and equilibrium quantity is 40 units.
Explanation:
Demand equation is given by,

Therefore the demand equation is given by, 
Supply equation is given by

Therefore, the supply equation is given by,

Equilibrium is given by

Answer:
the fastest we could drop your price before your monthly revenue starts to drop is $2,000
Explanation:
Data provided in the question:
Cars sold per month, Q = 70 cars
Price of each car, P = $35,000
Rate of increase in demand,
= 4 cars per month
Now,
Revenue, R = Price(P) × Quantity (Q)
Thus,
When monthly revenue starts to drop i.e
< 0
⇒
=
< 0
or
⇒
< 0
or
⇒
< 0
or
⇒
< - 140,000
or
< - 2,000
Hence,
the fastest we could drop your price before your monthly revenue starts to drop is $2,000