At a price of $1.94 per bushel, the supply of corn is 9,800 million bushels and the

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At a price of $1.94 per bushel, the supply of corn is 9,800 million bushels and the demand is 9,300 million bushels. At a price of $1.82 per bushel, the supply is 9,400 million bushels and the demand is 9,500 million bushels.
(A) Find a price-supply equation of the form p - mx + b.
(B) Find a price-demand equation of the form p - mx + b.
(C) Find the equilibrium point.
(D) Graph the price-supply equation, price-demand equation, and equilibrium point in the same coordinate system.
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College Mathematics for Business Economics Life Sciences and Social Sciences

ISBN: 978-0321614001

12th edition

Authors: Raymond A. Barnett, Michael R. Ziegler, Karl E. Byleen

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