Answer: (1) Equilibrium price = 60 and Equilibrium quantity = 120, when I = $1500.
(2) Equilibrium price = 54 and Equilibrium quantity = 108, when I = $1200.
Explanation:
(1) When Average income (I) = $1500
At equilibrium, QD = QS
150 - 3p + 0.1I = 2p
150 - 3p + 0.1 × 1500 = 2p
5p = 300
p = 
p = 60
q = 2p ⇒ 2 × 60 = 120
Hence, p and q are equilibrium price and equilibrium quantity, respectively.
(2) If 20% income tax is introduced then Average income (I) = $1500 - 20% of $1500 ⇒ $1500 - $300 = $1200
At equilibrium, QD = QS
150 - 3p + 0.1I = 2p
150 - 3p + 0.1 × 1200 = 2p
5p = 270
p = 
p = 54
q = 2p ⇒ 2 × 54 = 108
Hence, p and q are equilibrium price and equilibrium quantity, respectively.
B. It is a state of actual emergeny.
<u>Answer:</u>
bulk
<u>Explanation:</u>
The Tomatoes are produced in a bulk and the canned products are sent out in batches but the process of moving tomatoes from receiving through packaging and processing is done on a conveyor belt which is a continuous process.
Therefore, the production of tomatoes in a bulk is a continuous process which goes on around the clock on a conveyor belt and the final products are sent out in batches which have their own unique identity number.