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8- At $4.80 per bushel, the annual supply for soybeans in the Midwest is 1.9 billion bushels, and the annual demand is 2.0 billion bushels.
8- At $4.80 per bushel, the annual supply for soybeans in the Midwest is 1.9 billion bushels, and the annual demand is 2.0 billion bushels. When the price increases to $5.10 per bushel, the annual supply increases to 2.1 billion bushels, and the annual demand decreases to 1.8 billion bushels. Assume that the price-supply and price-demand equations are linear. Find the equilibrium price. ) $4.875 ) $4.755 :) $4.675 :) $4.955 9052
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