The demand for a certain company's e-reader can be approximated by
\( q = \frac { 740 } { p } - 1 \) million units per year \( ( 60 \leq p \leq 400 ) \) ,
where \( p \) is the price charged by the company. Assume that the company is prepared to supply
\( q = 0.0185 p - 1 \) million units per year \( ( 60 \leq p \leq 400 )\)
at a price of \( \$ p \) per unit.
(a) Calculate the equilibrium price and equilibrium demand.
equilibrium price
equilibrium demand
(b) Graph the demand and supply functions to confirm your answer in part (a) graphically. A graphing calculator is recommended.