March 29, 2017

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At a price of $ 1.94 per bushel, the supply corn in 9,800 million bushel and the demand is 9, 300 million bushel. 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
B, Find a price-demand equation of the form p=mx + b
C, Find the equilibrium point.
D, graph the price-supply equation, price-demand equation, and equilibrium point in the same coordinate system.

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