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Qs=40+6P8PI+10FQ _ { s } = 40 + 6 P - 8 P _ { I } + 10 F

Question 55

Multiple Choice

Qs=40+6P8PI+10FQ _ { s } = 40 + 6 P - 8 P _ { I } + 10 F where QsQ _ { s } is the quantity supplied of the good, P is the price of the good, PIP _ { I } is the price of an input, and F is the number of firms producing the good.
-Again suppose PIP _ { I } = $40 and F = 50, what is the lowest price that will induce firms to supply 400 units of output?


A) $15
B) $20
C) $25
D) $30
E) $35

Correct Answer:

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