Question: i need help asap!!!! and i need to know how to solve it so i need a step by step 3. The supply and demand
3. The supply and demand equations for the commodity, sugar, have been estimated to be given by the following equations: S = 0.7p + 0.4 D = -0.5p+ 1.6 where p is the price in dollars per pound and Sand D are in millions of pounds. a) Find the market price (equilibrium price). b) What quantity of supply is demanded(equilibrium quantity) at this market price? O
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