To analyze the market for T.K. VENTURES chocolate bars, let's break down the problem step by step.
### a) Calculate Equilibrium Price and Quantity
The equilibrium in the market is reached when the quantity demanded (QD) equals the quantity supplied (QS). We start with the given functions:
**Demand Function:**
\[ QD = 1600 - 300P \]
**Supply Function:**
\[ QS = 1000 + 700P \]
To find the equilibrium price (P), we set \( QD \) equal to \( QS


