Hello Class:

As promised, here is the response to question number 60.

Let x be the supply per pound, and p be the price per pound.

Now, from the question:

at $2.13 per bushel, the supply is 8.9 and the demand is 6.5.

So that translate to:

(x,p)  

for supply: (8.9, 2.13)  and for demand: (6.5, 2.13)

down to:$1.50 for supply 8.2, and demand 7.4.

for supply: (8.2,1.5) demand (7.4, 1.5)

Put all the supply coordinate together:

(8.9,2.13) and (8.2,1.5) 

Now, find the slope of the price supply:

m= (2.13-1.5) / (8.9-8.2)   = .9

Now use the point slope equation from math 130 or 110:

(y-2.13) =0.9(x-8.9)  solve interm of y:

y= .9x-5.88

Put all the price demand coordinate together:

 (6.5, 2.13) and (7.4,1.5)

find the slope of demand:

 m= (2.13-1.5) /(6.5-7.4) = -0.7

use the point slope formula:

(y-1.5) = -0.7(x-7.4)  and solve interm of y:

y= -.7x+6.68

I will present the graph in class.  Hope this answer your question.