An Economist Models the Market for Rice by the Following

question 8

Multiple Choice

An economist models the market for rice by the following equations. Let p represent the price per bushel (in dollars) and y represent the number of bushels produced and sold (in millions) . Use the model for supply to determine at what point is the price so low that no rice is produced.

• A) When the price of rice is $141.85 per bushel.
• B) When the price of rice is $70.93 per bushel.
• C) When the price of rice is $5.46 per bushel.
• D) When the price of rice is $12.99 per bushel.
• E) When the price of rice is $2.38 per bushel.

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Definitions:

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