6. The supply of wheat is given by the following equation: Q--6+4P-2Pc-Pr where Q' is the quantity of wheat supplied, in millions of bushels; Py is the price of wheat per bushel; Pe is the price of corn per bushel; and P, is the price of tractor fuel per gallon. a. Graph the inverse supply curve when corn sells for $4 a bushel and fuel sells for $2 a gallon. What is the supply choke price? b. How much wheat will be supplied at a price of $4? $8? c. What will happen to the supply of wheat if the price of corn increases to $6 per bushel? Explain intuitively; then graph the new inverse supply carefully and indicate the new choke price.
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6. The supply of wheat is given by the following equation: Qw=-6+4Pw-2PC-PF W where Q is the quantity of wheat supplied, in millions of bushels; Pw is the
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