Suppose the year 2016 has been particularly bad year for onions due to low rainfall: supply now is given by: P = 40 + Q (e) December is the month of celebrations, so the demand: P = 160 - 2 Q. What is the equilibrium price (rupees) and quantity (kgs) in December 2016?

- What do you expect to happen to supply, demand, quantity and prices with such inter-state commodity movement for this local market (in December)? Estimate the new prices and quantities and identify who gains and who loses.