The market for soybeans is characterized by 
= 21 - PS and 
= 2PS - PC, where QS is the quantity of soybeans in millions of bushels, PS is the price per bushel of soybeans, and PC is the price per bushel of corn. The market for corn is characterized by 
= 21 - PC and 
= 2PC - PS, where QC is the quantity of corn in millions of bushels. In general equilibrium, what are the equilibrium price and quantity of corn and soybeans?
Definitions:
Write-Off
The accounting action of declaring that an asset, typically accounts receivable, is uncollectible and removing its value from the books.
Estimated Bad Debts
A provision for accounts receivable that are not expected to be collected.
Net Income
The total earnings of a company after deducting all expenses, taxes, and costs from its total revenues, indicating the company's profitability.
Liabilities
Financial obligations or debts that a company owes to others, due to past transactions or events.
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