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Lesotho is a small country that is unable to affect world prices. It imports chocolate at the price of R10 per box. The demand curve

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Lesotho is a small country that is unable to affect world prices. It imports chocolate at the price of R10 per box. The demand curve is: D = 700 - 10P The supply curve is: S = 200 + 5P a. Under free trade, find the equilibrium price, quantity demanded, quantity supplied and the imported amount. (5 marks) b. If the government imposes an import quota of 200 boxes, calculate the new domestic price

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