Final answer:
The relationship between the prices of dates and the quantity demanded is consistent with the law of demand, while the relationship between the price and the quantity supplied is consistent with the law of supply.
Step-by-step explanation:
The relationship between the prices of dates and the quantity demanded can be defined by the demand function. In this case, the demand function is represented by the equation: Q = 60 - 2p + 0.01M + 0.5r + 6Pₑ, where Q is the quantity demanded of dates, p is the price of dates, M is the income, r is the price of related goods (chocolate), and Pₑ is the expected price of dates.
The relationship between the price and quantity supplied is defined by the supply function, which is represented by the equation: Qₛ = 600 + 10P. In this equation, Qₛ is the quantity supplied of dates, and P is the price of dates.
Based on the demand function and supply function, the relationship between the price of dates and the quantity demanded is consistent with the law of demand, which states that as the price of a good increases, the quantity demanded decreases, and vice versa. The relationship between the price of dates and the quantity supplied is consistent with the law of supply, which states that as the price of a good increases, the quantity supplied also increases, and vice versa.