Question: SOLVING A LINEAR SUPPLY AND DEMAND SYSTEM Exercise) Chucky runs a thriving lemonade stand and is willing to supply 12.5 cups of lemonade for $5

SOLVING A LINEAR SUPPLY AND DEMAND SYSTEM Exercise) Chucky runs a thriving lemonade stand and is willing to supply 12.5 cups of lemonade for $5 per cup. He would also be willing to supply 30 cups of lemonade for $6.75 per cup. Consumers are willing to buy 60 cups of lemonade at $4 a cup or 30 cups of lemonade at $7 a cup. The supply and demand relations are both linear. a) Determine the equation for supply. b) Determine the equation for demand. c) Find the equilibrium price and quantity. d) Confirm the equilibrium point by graphing the two equations in the same coordinate system

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