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At $0.39 per bushel, the daily supply for wheat is 448 bushels, and the daily demand is 592 bushels. When the price is raised to $0.81 per bushel, the daily supply increases to 508 bushels, and the daily demand decreases to 172 bushels. Assume that the price-supply and price-demand equations are linear. a. Find the price-supply equation. p= (Type an expression using q as the variable. Round to three decimal places as needed.)

At $0.39 per bushel, the daily supply for wheat is 448 bushels, and the daily demand is 592 bushels. When the price is raised to $0.81 per bushel, the daily supply increases to 508 bushels, and the daily demand decreases to 172 bushels. Assume that the price-supply and price-demand equations are linear. a. Find the price-supply equation. p= (Type an expression using q as the variable. Round to three decimal places as needed.)

Trigonometry (MindTap Course List)
Trigonometry (MindTap Course List)
10th Edition
ISBN:9781337278461
Author:Ron Larson
Publisher:Ron Larson
ChapterP: Prerequisites
SectionP.4: Linear Equations In Two Variables
Problem 7ECP
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At $0.39 per bushel, the daily supply for wheat is 448 bushels, and the daily demand is 592 bushels. When the price is raised to $0.81 per bushel, the daily supply increases to 508 bushels, and the daily demand decreases to 172 bushels. Assume that the price-supply and price-demand equations are linear. a. Find the price-supply equation. p= (Type an expression using q as the variable. Round to three decimal places as needed.)
Transcribed Image Text:At $0.39 per bushel, the daily supply for wheat is 448 bushels, and the daily demand is 592 bushels. When the price is raised to $0.81 per bushel, the daily supply increases to 508 bushels, and the daily demand decreases to 172 bushels. Assume that the price-supply and price-demand equations are linear. a. Find the price-supply equation. p= (Type an expression using q as the variable. Round to three decimal places as needed.)
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