The market for kola nuts is competitive and the market demand and supply functions are described the following equations:

Q_D= 320 - 5P(1)

Q_S= -80 + 15P(2)

Determine the equilibrium price ($) and quantity (kg) in this market. Show all working steps.

Use the information contained in the monopoly diagram beiow to answer parts b - e Dollars M0 per Unit $10 NOD 0 100125130150 Quantity