2. Consider a perfectly competitive market for anchovies. The demand curve is given by 629 = 72 2P9 and the supply curve is given by Q3 = 3P5 3. 3) Find the equilibrium price and quantity traded in this market. What does 'equilibrium' mean here? How would a price oor of $10 per unit have changed the quantity traded and Why? b) Sketch the supply and demand curves (on the usual axes) and mark the equilibrium point. Calculate the amount of consumer and producer surplus in equilibrium (please remember to include the appropriate units of measurement for your answer)