The following information reveals the market condition of chocolates: Qd = 1,800 - 15P, where Qd is the quantity demanded in number of packs and P is the price (in dollar terms) Qs = 1,200 + 5P, where Qs is the quantity supplied in number of packs Calculate the equilibrium price and equilibrium quantity of chocolates. Draw the demand-and-supply diagram of the chocolate market and label all relevant figures of critical points and intercepts. Indicate the producer surplus of chocolate market on your diagram. Is the market of chocolate efficient under the equilibrium?