At a price of 2.24 per bushel, the supply of a certain grain is 7100 million bushels and the demand is 7800 million bushels. At a price of 2.35 per bushel, the supply is 7500 million bushels and the demand is 7700 million bushels. (A) Find a price-supply equation of the form p=mx+b where p is the price in dollars and x is the supply in millions of bushels. (B) Find a price -demand equation of the form p=mx+b where p is the price in dollars and x is the demand in millions of bushels. (C) Find the equilibrium point. (D) Graph the price -supply equation, price-demand equation, and equilibrium point in the same coordinate system. (A) The price-supply equation is p=square . (Type an exact answer.)

To find the price-supply equation of the form $p=mx+b$, we need to determine the slope (m) and the y-intercept (b).<br /><br />Given:<br />At a price of $\$2.24$ per bushel, the supply is 7100 million bushels.<br />At a price of $\$2.35$ per bushel, the supply is 7500 million bushels.<br /><br />Step 1: Calculate the slope (m) using the given points (7100, 2.24) and (7500, 2.35).<br />m = (2.35 - 2.24) / (7500 - 7100)<br />m = 0.11 / 400<br />m = 0.000275<br /><br />Step 2: Use one of the given points to solve for the y-intercept (b).<br />Using the point (7100, 2.24):<br />2.24 = 0.000275 * 7100 + b<br />b = 2.24 - 1.95025<br />b = 0.28975<br /><br />Therefore, the price-supply equation is:<br />p = 0.000275x + 0.28975<br /><br />So, the answer for part (A) is:<br />(A) The price-supply equation is $p = 0.000275x + 0.28975$.