suppose that the market for canola oil is currently in equilibrium. The supply of vegetable oil is described by the equation: QS = - 150 20 P , where P is the price per gallon, and Q is the quantity per day. The Demand for vegetable oil is described by the equation: QD = 672 - 15 P - 0.5 M , where M is the median daily spending income and currently it is $ 160 . what is the current market quantity traded?Justin is a manager at a firm that produces dressings, dips, sauces, and jams. One of the jams is strawberry and fig. Currently, his firm buys 20,000 pounds of strawberries from local farmers at a price of $1.00 per pound. Consider that one local farmer has offered to sell his farm to the firm for an immediate payment of $25,000. This farm will produce the 20,000 pounds of stawberries needed at the firm. Justin calculates that if the firm purchases the farm, it will cost $0.80 to produce a pound of strawberries. Also, assuming that the discount rate is 8 percent per year, if the firm purchases the farm it plans to retain ownership of the farm