The quantity S of barley, in billions of bushels, that barley suppliers in a certain country are willing to produce in a year and offer for sale at price P, in dollars per bushel, is determined by the relation below. P = 1.7S − 0.5 The quantity D of barley, in billions of bushels, that barley consumers are willing to purchase in a year at price P is determined by the relation below. P = 3.64 − 0.6D The equilibrium price is the price at which the quantity supplied is the same as the quantity demanded. Find the equilibrium price for barley. (Round your answer to two decimal places.)
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Equations and inequalities describe the relationship between two mathematical expressions.
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A linear function can just be a constant, or it can be the constant multiplied with the variable like x or y. If the variables are of the form, x2, x1/2 or y2 it is not linear. The exponent over the variables should always be 1.
The quantity S of barley, in billions of bushels, that barley suppliers in a certain country are willing to produce in a year and offer for sale at price P, in dollars per bushel, is determined by the relation below.
The quantity D of barley, in billions of bushels, that barley consumers are willing to purchase in a year at price P is determined by the relation below.
The equilibrium price is the price at which the quantity supplied is the same as the quantity demanded. Find the equilibrium price for barley. (Round your answer to two decimal places.)
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