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5. Market price of Sugar. The supply and demand equations for sugar have been estimated to be given by the equations S(p) 0.7p+0.4 and D(p)0.5p+1.6 a) (2 pts.) Find the market price. b) (2 pts.) What quantity of supply is demanded at this market price? c) (3 pts.) Graph both the demand and supply equations. d) (1 pt.) Interpret the point of the intersection of the two lines.
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intersecting point (1,1.1)

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