At a price of ​$2.22 per​ bushel, the supply of a certain grain is 7500 million bushels and the demand is 7600 million bushels. At a price of ​$2.29 per​ bushel, the supply is 7900 million bushels and the demand is 7500 million bushels. ​(A) Find a​ price-supply equation of the form

Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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At a price of
​$2.22
per​ bushel, the supply of a certain grain is
7500
million bushels and the demand is
7600
million bushels. At a price of
​$2.29
per​ bushel, the supply is
7900
million bushels and the demand is
7500
million bushels.
​(A) Find a​ price-supply equation of the form
p=mx+​b,
where p is the price in dollars and x is the supply in millions of bushels.
​(B) Find a​ price-demand equation of the form
p=mx+​b,
where p is the price in dollars and x is the demand in millions of bushels.
​(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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