Simplify and write the answer in exponential notation using positive exponents. 
Definitions:
Equilibrium Price
The cost level where the amount of a product or service that consumers want to buy equals what is available, resulting in a balanced market situation.
Supply Curve
A graphical representation showing the relationship between the price of a good or service and the quantity supplied.
Elasticity Coefficients
Numerical measures that indicate how much the quantity demanded or supplied of a good responds to changes in price, income, or other factors.
Total Revenue
The total income generated from the sale of goods or services before any expenses are subtracted.
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