a) FInd a linear supply equation of the form, where p is theprice per bushel in dollars and is the corresponding supply inbillions of bushels.
b) FInd a linear demand equation of the form, where p is theprice per bushel in dollars and is the corresponding demand inbillions of bushels.
c) Graph the supply and demand equations in the same coordinatesystem and find their point of intersection.
1. Table 3 lists the supply and demand for wheat in the United States during two recent years. Assume that the relationship between supply and price is linear and the relationship between demand and price is also linear. TABLE 3: U.S. Wheat Supply and Demand Year Supply (mil bu) Demand (mil bu) Price ($/bu) 1997 2,480 2,300 3.38 1999 2,300 2,390 2.48
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