1. Let the supply function for sugar by given by p = S(q) = 1.4q - 0.6 and the demand function be given by p = D(q) = -2q + 2.4 where p is the price per pound and q is the quantity in thousands of pounds. (a) Graph these functions on the axes below (take note of the scale). Clearly label which curve is the graph of p = S(q), which curve is the graph of p = D(q), and label the axes to receive full credit. (4 points) 2.4 2.1 1.8 1.5 1.2 0.9 0.6 0.3 0.2 0.4 0.6 0.8 1.0 1.2 1.4 1.6 1.8 -0.3 -0.6 (b) Find both the equilibrium quantity and equilibrium price. Round your answers to the nearest hundredth and include units. (4 points)