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Mathematics, 03.10.2019 01:20 jaimes04

Name: 1. at $4.80 per bushel, the annual supply for soybeans in the midwest is 1.9 billion bushels and the annual demand is 2.0 billion bushels. when the price increases to $5.10 per bushel, the annual supply increases to 2.1 billion bushels and the annual demand decreases to 1.8 billion bushels. assume that the supply and demand equations are linear where q is the number of bushels (in billions) and p is the price in dollars per bushel. a) find the supply equation. b) find the demand equation. c) find the equilibrium price and quantity.

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Name: 1. at $4.80 per bushel, the annual supply for soybeans in the midwest is 1.9 billion bushels...
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