Problem
The demand and supply curves for coffee are given by Qd = 600 - 2P and Qs = 300 + 4P.
a) Plot the supply and demand curves on a graph and show where the equilibrium occurs.
b) Using algebra, determine the market equilibrium price and quantity of coffee.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.