3.3 Suppose that the supply function for copra (dried coconut meat) for processing into coconut oil in the Philippines is ln Q = 0.2 + 0.22ln p, where Q is the quantity of copra in millions of tons per year and p is the price of copra in thousands of pesos per ton.

If the demand function for copra for processing into coconut oil is ln Q = 1.5 - 0.22ln p + 0.09ln p0, where po = 65 is the price of coconut oil in thousands of pesos per ton in 2016, what is the demand curve for copra for processing? Solve for the equilibrium price and quantity of copra for processing into coconut oil (round your responses to one decimal place). M