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16. Suppose the competitive market for peanuts can be described by the following supply and demand equations, where P is the market price per bag
16. Suppose the competitive market for peanuts can be described by the following supply and demand equations, where P is the market price per bag of peanuts, (13 is the quantityr supplied of peanuts, and 05 is the quantity demanded of peanuts. All quantities are measured in thousands of bags of peanuts per month. 5:19 = 2.00 + (ITEQS DzP = 15.00 1.250,, a. Calculate the quantity of peanuts exchanged each month when the market is in equilibrium. Show your work in the space provided, and then record your final answer [including appropriate units) in the box
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