Question: The demand function for pork is: Q = 300 - 100P + 0.02INCOME, where Q is the tons of pork demanded in your city per

 The demand function for pork is: Q = 300 - 100P

The demand function for pork is: Q = 300 - 100P + 0.02INCOME, where Q" is the tons of pork demanded in your city per week, P is the price of a pound of pork, and INCOME is the average household income in the city The supply function for pork is: Q'S = 200 + 150P - 30COST, where Q is the tons of pork supplied in your city per week, P is the price of a pound of pork, and COST is the cost of pig food. Suppose INCOME is $50,000 and COST is $4. In this case, the equilibrium price of pork would be $ and the equilibrium quantity of pork would be |tons. (Round your answer for the price to two decimal places.)

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