An Economist Models the Market for Rice by the Following

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) . Find the best approximation for the equilibrium price.

A) The equilibrium price is $1.23 per bushel.
B) The equilibrium price is $5.86 per bushel.
C) The equilibrium price is $3.97 per bushel.
D) The equilibrium price is $154.21 per bushel.
E) The equilibrium price is $2.58 per bushel.