b) Suppose the demand and supply for durians in Singapore can be expressed as follows: Qd = 30 - P Q = -10 + P Compute the equilibrium price and quantity based on the demand and supply functions given above. Sketch the graph of the demand and supply functions in the same diagram. In your graph, shade and label the areas of consumer and producer surplus. Hence,Question 1 Read the article below and answer the questions that follows. SINGAPORE: Durian lovers here may have to fork out more to get their hands on the king of fruit, with Singapore sellers reporting that Malaysian farmers are exporting more of their harvest to China and Chinese tourists buying the fruit at the Malaysians farms they visit. As competition for durians increases, prices have risen steadily, said Ms Lilian Teo, 60, who has been selling durians for five years. She runs a shop with her father at the junction of Albert Street and Short Street near Little India. "They (the suppliers) are exporting to China, so we get less supply and it's more expensive," she said. For example, the Musang King, or Mao Shan Wang durian, was selling for S$8 per kg five years ago. Last year, that almost doubled to S$15 per kg, she said. Currently, fruit shops here are selling their supplies from Pahang at about S$28 per kg at the tail end of the current season. The Musang King durians are the most popular, given their creamy texture and small seeds, sellers said. Singaporean durian fan Seettha Wasudevan, 27, has noticed that the Mao Shan Wang durians that she loves have become increasingly expensive. She also finds that the durians are smaller. She said she is buying 2kgs of durians for S$60 which is double the usual price. She also added that since durian is the top most favorite fruit among Singaporeans. it is of no surprise that the price would be charged at a seasonal price which is an extra 30% from its usual price