Must be written out

Due: July 6th at 11459PM (Arizona-time) Directions: Complete all of the problems on this sheet (either physically or digitally) and upload a PDF to Gradescope for full credit. Show all work and answer each question that is asked. Explanations should be given in complete sentences and be fully labeled. and should use proper mathematical notation where appropriate. All graphs should be drawn accurately on this sheet 1. Let the supply function for sugar by given by p = S(q) = 1.4q - 0.6 and the demand function be given by p = D(q) = -2q + 2.4 where p is the price per pound and q is the quantity in thousands of pounds. (a) Graph these functions on the axes below (take note of the scale). Clearly label which curve is the graph of p = S(q), which curve is the graph of p = D(q), and label the axes to receive full credit. (4 points) 2.4 2.1 1.8 1.5 1.2 0.9 0.6 0.3 0.2 0.4 0.6 0.8 1.0 1.2 1.4 1.6 1.8 -0.3 -0.6 (b) Find both the equilibrium quantity and equilibrium price. Round your answers to the nearest hundredth and include units. (4 points)