The amount S, in billions of bushels, that a country is willing to supply depends on the price P, in dollars per bushel, of wheat. The relationship is
.
?
The demand D, in billions of bushels, is the quantity of wheat that customers will buy at a price of P dollars per bushel. The relationship is
.
?
A: Solve the latter equation for D and so express the demand as a function of the price P.B: The equilibrium price is the price at which supply and demand are the same. Find the equilibrium price.
What will be an ideal response?
?
B: 4.26 dollars per bushel
You might also like to view...
What is the connection between entrepreneurs and innovation?
What will be an ideal response?
Use a calculator to evaluate the expression. Round the answer to three decimal places.(-2.39)-3
A. 13.652 B. -13.652 C. 0.073 D. -0.073
Simplify.3
A.
B.
C.
D.
Solve the problem.The number of mosquitoes M(x), in millions, in a certain area depends on the June rainfall x, in inches: What rainfall produces the maximum number of mosquitoes?
A. 36 in. B. 3 in. C. 6 in. D. 0 in.