At $4.80 per bushel, the annual supply for soybeans in the Midwest is 1.9 billion bushels, and the annual demand is 2.0 billion bushels. When the price increases to $5.10 per bushel, the annual supply increases to 2.1 billion bushels, and the annual demand decreases to 1.8 billion bushels. Assume that the price–supply and price– demand equations are linear.

(A) Find the price–supply equation.

(B) Find the price–demand equation.

(C) Find the equilibrium price and quantity.

(D) Graph the two equations in the same coordinate system and identify the equilibrium point, supply curve, and demand curve.