Mathematics, 06.05.2020 03:26 chelsearodi3985
At $ 0.49 per bushel, the daily supply for wheat is 409 bushels, and the daily demand is 589 bushels. When the price is raised to $ 0.85 per bushel, the daily supply increases to 529 bushels, and the daily demand decreases to 229 bushels. Assume that the price-supply and price-demand equations are linear.
(A) Find the supply equation.
(B) Find the demand equation.
(C) Find the equilibrium price and quantity
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At $ 0.49 per bushel, the daily supply for wheat is 409 bushels, and the daily demand is 589 bushels...
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