Asap The equations provided below dencribe demand and supply conditions in the soybean market. Orepresentsthe quantity of soybean, meanured in bushels and P represents the price in dollars.Supply: o8.--60,000 + 50,0O0PDemand: oD- 90,000 - 10,000PThe equilibrium quantity isOa. 160,000 bushelsOb.40,000 bushelsOc. 60,000 bushelsd. 50,000 bushelse. 85,000 bushelsOf. 35,000 bushelsOg. 110,000 bushelsOh.65,000 bushelsnoints

The production function is a line or boundary that indicates the maximum amount of output that may…

Answered: the quantity of soybean, meanured in…

the quantity of soybean, meanured in bushels and P repre Supply: as- -60,000 50,000P Demand: QD 90,000 - 10,00OP The equilibrium quantity is

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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The equations provided below dencribe demand and supply conditions in the soybean market. Orepresents
the quantity of soybean, meanured in bushels and P represents the price in dollars.
Supply: o8.
--60,000 + 50,0O0P
Demand: oD- 90,000 - 10,000P
The equilibrium quantity is
Oa. 160,000 bushels
Ob.40,000 bushels
Oc. 60,000 bushels
d. 50,000 bushels
e. 85,000 bushels
Of. 35,000 bushels
Og. 110,000 bushels
Oh.65,000 bushels
noints

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