Using the supply and demand functions​ below, derive the demand and supply curves if Y=​$55,000 and pc=​$9. What is the equilibrium price and quantity of​ coffee? Part 2 The demand function for coffee is   Q=8.5−p+​0.01Y,   where Q is the quantity of coffee in millions of pounds per​ year, p is the price of coffee in dollars per​ pound, and Y is the average annual household income in​ high-income countries in thousands of dollars.   The coffee supply function is   Q=9.6+0.5p−0.2pc​,   where pc is the price of cocoa in dollars per pound.

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