At $0.53 per bushel, the daily supply for wheat is 301 bushels, and the daily demand is 595 bushels. When the price is raised to $0.83 per bushel, the daily supply increases to 601 bushels, and the...


At $0.53 per bushel, the daily supply for wheat is 301 bushels, and the daily demand is 595 bushels. When the price is raised to $0.83 per bushel, the daily supply<br>increases to 601 bushels, and the daily demand decreases to 495 bushels. Assume that the price-supply and price-demand equations are linear.<br>a. Find the price-supply equation<br>p =<br>(Type an expression using q as the variable. Round to three decimal places as needed.)<br>

Extracted text: At $0.53 per bushel, the daily supply for wheat is 301 bushels, and the daily demand is 595 bushels. When the price is raised to $0.83 per bushel, the daily supply increases to 601 bushels, and the daily demand decreases to 495 bushels. Assume that the price-supply and price-demand equations are linear. a. Find the price-supply equation p = (Type an expression using q as the variable. Round to three decimal places as needed.)

Jun 04, 2022
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