• 100% Satisfaction Guarantee

SteveS, MBA
Category: Homework
Satisfied Customers: 453
Experience:  MBA from Top 5 US Business School, Tutoring Experience for Over Two Years
18851589
SteveS is online now

# AP-9 Suppose the supply and demand for wheat is given by

### Resolved Question:

AP-9: Suppose the supply and demand for wheat is given by:
Supply: Qs = 1,800 + 240P
Demand: Qd = 2,550 + 10I – 266P
Where P = the price per bushel of wheat and I = income. The current value of I is 100.
a. Find the current equilibrium price and quantity of wheat sold in the marketplace.
b. Find the equilibrium price and quantity if income increases to 150.
c. Show the change in equilibrium using a standard supply and demand graph. Make sure to label the axes and the curves. The graph does not need to be to scale. Just illustrate in a general way what is going on.

From: Managerial economics and organizational architecture (RQ 3-21, p. 102). Boston: McGraw-Hill Irwin. Publisher. Brickley, J. A., Smith, C. W., & Zimmerman, J. L. (2009).
Submitted: 6 years ago.
Category: Homework
Expert:  SteveS replied 6 years ago.

You need to spend \$3 to view this post. Add Funds to your account and buy credits.
SteveS, MBA
Category: Homework
Satisfied Customers: 453
Experience: MBA from Top 5 US Business School, Tutoring Experience for Over Two Years
Expert:  SteveS replied 6 years ago.

HiCustomer

If you do not have any questions about the solution, please click on the Accept button. Thanks.

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

### What Customers are Saying:

• Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C. Freshfield, Liverpool, UK
< Previous | Next >
• Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C. Freshfield, Liverpool, UK
• This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!! Alex Los Angeles, CA
• Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult. GP Hesperia, CA
• I couldn't be more satisfied! This is the site I will always come to when I need a second opinion. Justin Kernersville, NC
• Just let me say that this encounter has been entirely professional and most helpful. I liked that I could ask additional questions and get answered in a very short turn around. Esther Woodstock, NY
• Thank you so much for taking your time and knowledge to support my concerns. Not only did you answer my questions, you even took it a step further with replying with more pertinent information I needed to know. Robin Elkton, Maryland
• He answered my question promptly and gave me accurate, detailed information. If all of your experts are half as good, you have a great thing going here. Diane Dallas, TX

• ### LogicPro

#### Satisfied Customers:

4925
Expert in Java C++ C C# VB Javascript Design SQL HTML
< Last | Next >

### LogicPro

#### Satisfied Customers:

4925
Expert in Java C++ C C# VB Javascript Design SQL HTML

### Manal Elkhoshkhany

#### Satisfied Customers:

4538
More than 5000 online tutoring sessions.

### Linda_us

#### Satisfied Customers:

3138
Post Graduate Diploma in Management (MBA)

### Chris M.

#### Satisfied Customers:

2602
Master's Degree, strong math and writing skills, experience in one-on-one tutoring (college English)

### F. Naz

#### Satisfied Customers:

2126
Experience with chartered accountancy

### Bizhelp

#### Satisfied Customers:

1887
Bachelors Degree and CPA with Accounting work experience