Mathematics, 24.11.2020 21:50 kellysmith45

The quantity of wheat, in billions of bushels, that wheat suppliers are willing to produce in a year and offer for sale is called the quantity supplied and is denoted by S. The quantity supplied is determined by the price P of wheat, in dollars per bushel, and the relation is P = 2.13S − 0.65

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The quantity of wheat, in billions of bushels, that wheat consumers are willing to purchase in a year is called the quantity demanded and is denoted by D. The quantity demanded is also determined by the price P of wheat, and the relation is

P = 2.55 − 0.55D

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At the equilibrium price, the quantity supplied and the quantity demanded are the same. Find the equilibrium price for wheat. (Round your answer to two decimal places.)

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The quantity of wheat, in billions of bushels, that wheat suppliers are willing to produce in a year...

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