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Business, 25.01.2020 03:31 hannahdrees0731

At a price of $1.94 per bushel, the supply of corn is 9,800 million bushels and the demand is 9,300 million bushels. at a price of $1.82 per bushel, the supply is 9,400 million bushels and the demand is 9,500 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 corresponding supply in millions of bushels.
b) find a price-demand equation of the form p mxb, where p is the price in dollars and x is the corresponding supply in millions of bushels.
c) using excel, graph the price-supply and price-demand equations in the same coordinate system and find their point of intersection (equilibrium point)

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