At a price of $2.22 per bushel, the supply of a certain grain is 7200 million bushels and the demand is 7500 million bushels. At a price of $2.31 per bushel, the supply is 7600 million bushels and the demand is 7400 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.(A) The price-supply equation is p =(Type an exact answer.)(B) The price-demand equation is p=(Type an exact answer.)(C) The equilibrium point is(Type an ordered pair. Type an exact answer. Use integers or decimals for any numbers in the expression.)(D) Choose the correct graph below.A.Ap3-O B.Ос.ApAp3-3-2-2-2-700080007000800070008000

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Answered: At a price of $2.22 per bushel, the…

College Algebra

7th Edition

ISBN:9781305115545

Author:James Stewart, Lothar Redlin, Saleem Watson

Publisher:James Stewart, Lothar Redlin, Saleem Watson

Chapter1: Equations And Graphs

Section1.3: Lines

Problem 92E

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At a price of $2.27 per bushel, the supply of a certain grain is 7400 million bushels and the demand is 7600 million bushels. At a price of $2.34 per bushel, the supply is 7800 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.
For the pair of supply-and-demand equations, where x represents the quantity demanded in units of 1,000 and p is the unit price in dollars, find the equilibrium quantity and the equilibrium price. p = - 2x + 15 and p = 5x + 1
For the pair of supply-and-demand equations, where x represents the quantity demanded in units of 1,000 and p is the unit price in dollars, find the equilibrium quantity and the equilibrium price. 2x + 9p - 93 = 0 and 3x - 14p + 108 = 0
For the pair of supply-and-demand equations, where x represents the quantity demanded in units of 1000 and p is the unit price in dollars, find the equilibrium quantity and the equilibrium price. 2x + 5p − 30 = 0 and 3x − 11p + 29 = 0
For the pair of supply-and-demand equations, where x represents the quantity demanded in units of 1000 and p is the unit price in dollars, find the equilibrium quantity and the equilibrium price. p = −0.3x + 9 and p = 0.25x + 3.5 equilibrium quantity
For the pair of supply-and-demand equations, where x represents the quantity demanded in units of 1000 and p is the unit price in dollars, find the equilibrium quantity and the equilibrium price. 2x + 7p − 56 = 0 and 3x − 11p + 45 = 0 equilibrium quantity units equilibrium price $
For the pair of supply and demand equations,where x represents the quantity demanded in units of a thousand and p the unit price in dollars, find the equilibrium quantity and the equilibrium price. p=54-7x2 and p= x2+10x+29
For the pair of supply and demand equations, x+2p -1500 = 0 and 2x - p + 250= 0 where x represents the quantity demanded and p is the unit price in dollars. Find the equilibrium quantity and equilibriium price.
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At a price of $4.67 per pound, the supply for cherries is 16,273 pounds, and the demand is 10,391 pounds. When the price drops to $4.21 per pound, the supply decreases to 10,923 pounds and the demand increases to 12,892 pounds. Assume that the price-supply and price-demand equations are linear. What is the equilibrium price? $ per pound. Round to the nearest cent. At a price of $4.66 per pound, the supply for cherries is 16,248 pounds, and the demand is 10,369 pounds. When the price drops to $4.16 per pound, the supply decreases to 10,643 pounds and the demand increases to 12,641 pounds. Assume that the price-supply and price-demand equations are linear. What is the equilibrium quantity? Round to the nearest pound. $ pounds.
In particular, historical data shows that 5000 shirts can be sold at a price of $62, while 9000 shirts can be sold at a price of $30. Give a linear equation in the form p=mn+bp=mn+b that gives the price pp they can charge for nn shirts.

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