document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=911171>Question 911171</A>: <I><SPAN STYLE=\"word-break: break-all;\"> At a price of $2.50 per bushel, the annual US supply and demand for corn are 8.5 and 9.8 million bushels,respectively. When the price rises to $3.30, the supply increases to 10.5 million bushels, while the demand decreases to 7.8 bushels.\r<BR>\n" );
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document.write( "A) assuming that the price-supply and the price-demand equations are linear, find equations for each.\r<BR>\n" );
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document.write( "B) Find the equilibrium point for the US corn market. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #552882 by </B><A HREF=/tutors/aboutme.mpl?userid=ewatrrr><B>ewatrrr(24785)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=ewatrrr><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/cgi-bin/show-face.mpl?user=ewatrrr><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=552882\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> A)($3.30, 10.5)<BR>\n" );
document.write( "($2.50, 8.5) m = 2/.8 = 2.5<BR>\n" );
document.write( "y[s] - 8.5 = 2.5(x -2.5)<BR>\n" );
document.write( "y[s] = 2.5x + 8.5 -6.25<BR>\n" );
document.write( ".......<BR>\n" );
document.write( "($2.50, 10.5)<BR>\n" );
document.write( "(3.50, 7.8) m = 2.7/-1 = -2.7<BR>\n" );
document.write( "y[d] -10.5 = -2.7(x - 2.5)<BR>\n" );
document.write( "y[d] = -2.7x + 10.5 + 6.75<BR>\n" );
document.write( "B) y[s] = y[d]<BR>\n" );
document.write( "2.5x + 2.25 = -2.7x + 17.25<BR>\n" );
document.write( "x = 15/5.2 = 2.8846 million bushels </SPAN>\n" );
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