Question: Let the supply and demand functions for sugar be given by where p is the price per pound and q is the quantity in thousands

Let the supply and demand functions for sugar be given by

p= S(q) = 1.4q 0.6 p= D(q)-2q + 3.2, P and

where p is the price per pound and q is the quantity in thousands of pounds.
(a) Graph these on the same axes.
(b) Find the equilibrium quantity and the equilibrium price.

p= S(q) = 1.4q 0.6 p= D(q)-2q + 3.2, P and

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