An economist models the market for corn by the following equations (p is price per bushel (in dollars), y is the
y is the number of bushels produced and sold (in billions):
Supply: y = 4.18 - 11.5
Demand: y= -1.06 p + 19.3
a) Based on the models, how much corn would be produced at a price of $3/bushel?
c) Based on the models, what price would be so low that no one would produce any corn?