Al aprice of 2.28 per bushel, the supply of a certain grain is 7400 million bushels and the demand is 7800 million bushels. A a price of 2.39 per bushel, the supply ls 7800 million bushels and the demand is 7700 million bushels. (A) Find a price supply equation of the form (B) Find a price demand equation of the form p=mx+b where p in the price in dollars and x is the demand in millions of buthels. (C) Find the equilibrium point. (D) Graph the price supply equation, price-demand equalion, and equilitrium point in the same coordinate system. (A) The price-supply equation is p=square . (Type an exact answer)

To find the price-supply equation, we need to determine the relationship between the price (p) and the supply (x).<br /><br />Given:<br />- At a price of $2.28 per bushel, the supply is 7400 million bushels.<br />- At a price of $2.39 per bushel, the supply is 7800 million bushels.<br /><br />We can use these two points to find the equation of the line in the form p = mx + b.<br /><br />Let's denote the price as p and the supply as x.<br /><br />Using the two points (7400, 2.28) and (7800, 2.39), we can calculate the slope (m) of the line:<br /><br />m = (p2 - p1) / (x2 - x1)<br />m = (2.39 - 2.28) / (7800 - 7400)<br />m = 0.11 / 400<br />m = 0.000275<br /><br />Now, we can use one of the points to find the y-intercept (b):<br /><br />p = mx + b<br />2.28 = 0.000275 * 7400 + b<br />b = 2.28 - (0.000275 * 7400)<br />b = 2.28 - 2.035<br />b = 0.245<br /><br />Therefore, the price-supply equation is:<br /><br />p = 0.000275x + 0.245<br /><br />So, the answer for part (A) is:<br /><br />(A) The price-supply equation is p = 0.000275x + 0.245.