Use the following general linear supply function to answer the next 6 questions:
where
is the quantity supplied of the good, PI is the price of the good, is the price of an input, and F is the number of firms producing the good.
-If
= $20 and F = 60 what is the equation of the supply function?
A)
= 400 + 6 P
B)
= 40 + 8 P
C)
= 480 + 6 
D)
= 480 + 6 P
E) none of the above
Correct Answer:
Verified
Q9: Use the following general linear demand relation
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Q12: If a demand curve goes through the
Q13: If a supply curve goes through the
Q15: Use the following general linear supply function
Q16: Use the following general linear supply function
Q17: Use the following general linear supply function
Q18: Use the following general linear supply function
Q19: Use the following general linear supply function
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