Consider the relationship given by Q Cars = 100 + 4xP Cars - 2xP Steel - 2xP Workers , where is the quantity of cars (in thousands), is the price of cars and P is the wage earned by autoworkers. If the price of steel is $10 per unit and the price of workers (the wage) is $20, what is the supply curve for cars?

Question

Quizplus · Accepted Answer

The supply curve is derived by substituting the given prices of steel ($10) and workers ($20) into the equation: QS1U1B1CarsS1U1B0 = 100 + 4xPS1U1B1CarsS1U1B0 - 2(10) - 2(20), which simplifies to QS1U1B1CarsS1U1B0 = 40 + 4xPS1U1B1CarsS1U1B0.

Consider the Relationship Given by QCars = 100 + 4xPCars

Consider the Relationship Given by Q_Cars = 100 + 4xP_Cars