Question: Suppose that the supply function for honey is p= S(q) = 0.3q + 2.7 , where p is the price in dollars for an 8
Suppose that the supply function for honey is p= S(q) = 0.3q + 2.7 , where p is the price in dollars for an 8 oz. container and q is the quantity in barrels. Suppose also that the equilibrium price is $4.50 and the demand is 2 barrels when the price is $6.50. Find an equation for the demand function, assuming it is linear
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