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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Question
please answer c and d
![At a price of $2.24 per bushel, the supply of a certain grain is 7300 million bushels and the demand is 7700 million bushels. At a price of $2.35 per bushel, the supply is 7700 million bushels and the demand is 7600 million bushels.
(A) Find a price-supply equation of the form p = mx + b, wherep 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.
...
(A) The price-supply equation is p= 0.000275x+ 0.2325 .
(Type an exact answer. Use integers or decimals for any numbers in the equation.)
(B) The price-demand equation is p= -0.0011x+ 10.71.
(Type an exact answer. Use integers or decimals for any numbers in the equation.)
(C) The equilibrium point is 7620
(Type an ordered pair. Type an exact answer. Use integers or decimals for any numbers in the expression.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff913ad89-2b8a-4936-a89b-e426e12254af%2F1e396b09-06e5-45c7-a240-226df305674c%2Fd4ljkra_processed.png&w=3840&q=75)
Transcribed Image Text:At a price of $2.24 per bushel, the supply of a certain grain is 7300 million bushels and the demand is 7700 million bushels. At a price of $2.35 per bushel, the supply is 7700 million bushels and the demand is 7600 million bushels.
(A) Find a price-supply equation of the form p = mx + b, wherep 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.
...
(A) The price-supply equation is p= 0.000275x+ 0.2325 .
(Type an exact answer. Use integers or decimals for any numbers in the equation.)
(B) The price-demand equation is p= -0.0011x+ 10.71.
(Type an exact answer. Use integers or decimals for any numbers in the equation.)
(C) The equilibrium point is 7620
(Type an ordered pair. Type an exact answer. Use integers or decimals for any numbers in the expression.)
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