Explain the equilibrium price of wheat find the equilibrium

Assignment Help Microeconomics

Reference no: EM13390791

If the demand curve for wheat in the United States is P=12.4 - Q_D where is the P is the farm price of wheat (in dollars per bushel) and Q_D is the quantity of wheat demanded (in billions of bushels), and the supply curve for wheat in the United States is P= -2.6 + 2Q_S where Q_s is the quantity of wheat supplied (in billions of bushels), what is the equilibrium price of wheat? What is the equilibrium quantity of wheat sold? Must the actual price equal the equilibrium price? Why or why not?

Reference no: EM13390791

Questions Cloud

Because it is not possible to engage in two-way dialogue : need 3-4 par 5 in 8hr by 8pm tonight must be in apa format and 2 references original workthe purpose of the discussion

Paints-r-us company provides painting services to : paints-r-us company provides painting services to commercial clients. by tracking overhead costs in an activity-based

Explain how does one evaluate the features of a quality : how does one evaluate the characteristics of a quality tangible product? how important would reliability and

Write down the distinguishing elements of the : what are the distinguishing elements of a customer-driven quality requirement? what elements are unique to a

Explain the equilibrium price of wheat find the equilibrium : if the demand curve for wheat in the united states is p12.4 - qd where is the p is the farm price of wheat in dollars

Write down the distinguishing elements of the : what are the distinguishing elements of a process-driven quality requirement? what is unique about a process-driven

Identify the keyroot problem while there may be several : you have been hired by the company to develop the strategy that will turn this situation around.using your swot

What occurs if during one hour syldavia aluminum company : the rules of the syldavian electricity market stipulate that all participants must trade energy exclusively through the

Write down some approaches taken by leadership in planning : write down some approaches taken by leadership in planning developing and implementing the quality process? what type

User Account

All Pages