Executives of a bread company decide to add a new line of whole wheat bread. Research indicates that consumers will buy about 700 loaves at $1.95 a loaf and 1,100 at $1.60 a loaf. The company can supply 460 loaves at $1.65 per loaf and 1,260 loaves at $1.92 per loaf. Furthermore, the baking staff reports that it costs $270 for 850 loaves and $555 for 2,200 loaves. Let the input be p, price per loaf, and the output be q, number of loaves. Required:
a. What is the demand equation, D(P)?
b. What is the supply equation, S(p)?
c. Find the market equilibrium price and quantity.
d. What is the cost equation, C(q)?