Many recent news outlets have published articles on seaweed (X) as a "superfood". Seaweed is measured in pounds and can be bought in fractions of pounds. The market supply curve and market demand curves for seaweed, given in a recent trade report, are provided below. The price of seaweed (per pound) is measured in dollars. Qxd=4900100Px50Py+30Pz+MQxs=3000+200Px40Pw Where Qxd is the quantity demand of seaweed; Qxs is the quantity supplied of seaweed; Px is the price of seaweed; Py= price of sesame seeds $80; Pz= price of lettuce $70; M= Income$5000 and Pw= price of plastic tube $25.

a. Find the demand function and the supply function at the given values for Py, Pz, M and Pw.

b. Using the demand function and supply functions in (a), determine the market equilibrium

price and quantity.

c. Using the demand and supply curves, graph the market equilibrium price and quantity

d. Suppose the government has implemented a price floor of $50 per pound of seaweed with the goal of supporting the income of seaweed farmers. calculate the quantity supplied (Qxs) and quantity demanded (Qxd) of seaweed at this price floor price. What is the effect of the imposition price floor of $50?

e. List two factors each that affect the demand and supply sides of the market for seaweed