Supply and demand. At a price of $1.94 per bushel, the Supply of corn is 9,800 million bushels and the demand is 9,300 million bushels. At a price of $1.82 per bushel, the Supply is 9,400 million bushels and the demand is 9,500 million bushels.
(A) Find a price–supply equation of the form p = mx + b.
(B) Find a price–demand equation of the form p = mx + b.
(C) Find the equilibrium point.
(D) Graph the price–supply equation, price–demand equation, and equilibrium point in the same coordinate system.
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