The quantity R of rice in billions of bushels that rice suppliers in a certain...
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The quantity R of rice in billions of bushels that rice suppliers in a certain country are willing to produce in a year and offer for sale at a price P in dollars per bushel is determined by the relation The quantity 7 of rice in billions of bushels that rice consumers are willing to purchase in a year at price P is determined by the relation The equilibrium price is the price at which the quantity supplied is the same as the quantity demanded Find the equilibrium price for rice Give an exact answer Use symbolic notation and fractions where needed equilibrium price dollars per bushel
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