For a farm commodity rye grain in 2002 the price-demand and, Ask an Expert

Finance

For a farm commodity, rye grain in 2002, the price-demand and price supply equations are given by:

price - demand equation p= -0.01x + 26.38
price - supply equation p= 0.005x - 9.02

where price is dollars per bushel, and x is in billions of bushels.

a. find the quantity of grain supplied at equilibrium.
b. Find the price per bushel at equilibrium.

We are using a very poorly written textbook (Math with Applications 9th ed) and it gives very few exs without showing the work, so I do not understand how to even find the equilibrium. My book just shows me a graph and I do not even know how to plug the equation in to a calculator to find a graph. Please help me find the solutions.

View complete question

Basic Finance, Finance

Category:- Basic Finance
Reference No.:- M926013

Have any Question?Write your Review or question?

Related Questions in Basic Finance

Please provide formulawhat is the present value of a 128

Please provide formula What is the present value of a $128 perpetuity discounted back to the present at 9.38 percent.

If you deposit 446900 at 789 annual interest compounded

If you deposit $4,469.00 at 7.89% annual interest compounded quarterly, how much money will be in the account after 20.0 years? If you deposit $125.00 into an account paying 12.39% annual interest compounded monthly, how ...

Discuss the legal ethical and economic-social implications

Discuss the legal, ethical, and economic-social implications of the below case study. Someone you know has knowledge of an outstanding merger between two companies. The combination of the two firms will certainly change ...

Suppose your company needs to raise 63 million and you want

Suppose your company needs to raise $63 million and you want to issue 20-year bonds for this purpose. Assume the required return on your bond issue will be 5.4 percent, and you're evaluating two issue alternatives: A sem ...

What are some examples of marketing activities that are

What are some examples of "marketing" activities that are associated with the Summer Olympics? How does global marketing and the use of new digital marketing techniques facilitate marketing activities at the Olympics in ...

Craigs cake company has an outstanding issue of 15-year

Craig's Cake Company has an outstanding issue of 15-year convertible bonds with a $1,000 par value. These bonds are convertible into 80 shares of common stock. They have a 13% annual coupon interest rate, whereas the int ...

Mcconnell corporation has bonds on the market with 185

McConnell Corporation has bonds on the market with 18.5 years to maturity, a YTM of 7.9 percent, a par value of $1,000, and a current price of $1,067. The bonds make semiannual payments. What must the coupon rate be on t ...

Stock x has a beta coefficient of 20 and stock y has a beta

Stock X has a beta coefficient of 2.0 and stock Y has a beta coefficient of 1.5. The expected rate of return on an average stock is 11% and the risk-free rate is 5%. By how much does the required rate of return on the ri ...

Felcor stock is currently selling for 4000 a share but is

Felcor stock is currently selling for $40.00 a share but is expected to either decrease to $36 or increase to $44 a share over the next year. The risk-free rate is 4 percent. What is the current value of a 1-year call op ...

1nbspmrs beach wants to invest a lump sum of money today to

1) Mrs. Beach wants to invest a lump sum of money today to have $100,000 when she retires at 65 (she is 40 today). a. How much of a deposit would she have to make if the interest rate on the C.D. was 5%? b. What would ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Basic Finance Expert