document.write( "Question 1078185: At $0.31 per bushel, the daily supply for wheat is 450 bushels, and the daily demand is 567567 bushels. When the price is raised to $0.76 per bushel, the daily supply increases to 600600 bushels, and the daily demand decreases to 492
\n" ); document.write( " bushels. Assume that the price-supply and price-demand equations are linear. \n" ); document.write( "

Algebra.Com's Answer #692733 by Boreal(15235) $\"\"$ $\"About$

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(0.31,450) and (0.76,600) is supply equation, with slope 150/0.45=333.3
\n" ); document.write( "equation uses point slope y-y1=m(x-x1) m slope (x1,y1) the point
\n" ); document.write( "y-600=333.3(x-0.76)
\n" ); document.write( "y=333.3x+346.6667
\n" ); document.write( "=============================
\n" ); document.write( "(0.31,567) and (0.76, 492) with slope -75/0.45=-1.66667
\n" ); document.write( "y-492=-1.6667*(x-0.76)
\n" ); document.write( "y=-1.6667x+493.2667
\n" ); document.write( "============================
\n" ); document.write( " $\"graph%28300%2C300%2C-1%2C10%2C450%2C540%2C333.3x%2B346.6667%2C-1.6667x%2B493.2667%29\"$
\n" ); document.write( "set the two equal
\n" ); document.write( "-1.6667x+493.2667=333.3x+346.6667
\n" ); document.write( "335x=146.666
\n" ); document.write( "x=0.438 or 0.44 cents/bushel
\n" ); document.write( "493 bushels with the first equation.
\n" ); document.write( "492.54 bushels with the second equation, rounding error. \n" ); document.write( "

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