Read the following passage and answer the questions.

Suppose there is a market consisting of identical firms producing the same quality of salt.

Suppose the market demand curve and the market supply curve for salt are given by:

$Q_D=350-p$ for $0 ≤ p ≤ 350$

= 0 for p > 350

$Q_S = 220 + p$ for $p ≥ 10$

= 0 for 0 ≤ p < 10

Where $Q_D$ and $Q_S$ denote the demand for and supply of salt (in kg) respectively and p denotes the price of salt per kg in rupees.

Find the equilibrium price of salt in this market.

Rs 65

The correct answer is Option (4) → Rs 65

$Q_D=350 - p$

$Q_S = 220 + p$

At equilibrium, $Q_D=Q_S$

350−p = 220+p

130 = 2p

p = 65