At a price of 222 per bushel, the supply of a certain grain is 7100 million bushels and the demand is 7700 million bushels. At a price of 2.27 per bushel, the supply is 7500 million bushels and the demand is 7600 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-demat id 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-deman equation, and equilibrium point in the same coordinate system (A) The price-supply equation is p= (Type an exact answer )

## Step 1: <br />To find the price-supply equation, we need to determine the slope and y-intercept of the line. The slope can be calculated using the formula:<br />### \( m = \frac{y_2 - y_1}{x_2 - x_1} \)<br />where \( (x_1, y_1) \) and \( (x_2, y_2) \) are two points on the line.<br /><br />## Step 2:<br />Using the given points (7100, 222) and (7500, 2.27), we can calculate the slope:<br />### \( m = \frac{2.27 - 222}{7500 - 7100} \)<br /><br />## Step 3:<br />Once we have the slope, we can use one of the points to solve for the y-intercept using the equation:<br />### \( y = mx + b \)<br />where \( b \) is the y-intercept.<br /><br />## Step 4:<br />Substitute the values of \( m \), \( x \), and \( y \) into the equation to solve for \( b \).<br /><br />## Step 5:<br />Write the final price-supply equation in the form \( p = mx + b \).