A company is manufacturing a new dietary supplement pill that promotes body fat reduction
(a) The company will supply 60 pills for a price of $40, and will supply 100 pills for a price of $60. Determine a linear supply function, p = S(q). for this product.
(b) The demand for this new dietary supplement pill is 50 pills at a price of $47.50 and 80 pills at a price of $32.50. Determine a linear demand function, p = D(q). for this product.
(c) Find the equilibrium price and quantity for the new dietary supplement pill.
