Question: 2. There is no demand for an item when the price is $800. However, there is a demand for 100 items when the price

2. There is no demand for an item when the price is

2. There is no demand for an item when the price is $800. However, there is a demand for 100 items when the price is $600. The supplier will not provide any of the items if the unit price is $300 or below. The supplier will provide 150 items when the unit price is $375. a. Write the demand equation. Hint, let x be items and y be $. b. Write the supply equation. Hint, let x be items and y be $. d. Sketch the graph of supply and demand functions, and find the equilibrium point.

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