Use the following general linear supply function to answer the next 6 questions:

where is the quantity supplied of the good, P I is the price of the good, is the price of an input, and F is the number of firms producing the good.
-Now suppose
= $40 and F = 50, what is the largest amount of the good that firms will supply when the price of the good is $20?

Question

Use the following general linear supply function to answer the next 6 questions:
  
where is the quantity supplied of the good, P I is the price of the good, is the price of an input, and F is the number of firms producing the good.
-Now suppose
= $40 and F = 50, what is the largest amount of the good that firms will supply when the price of the good is $20?

Quizplus · Accepted Answer

The Answer of Use the following general linear supply function to answer the next 6 questions:
  
where is the quantity supplied of the good, P I is the price of the good, is the price of an input, and F is the number of firms producing the good.
-Now suppose
= $40 and F = 50, what is the largest amount of the good that firms will supply when the price of the good is $20?

Use the Following General Linear Supply Function to Answer the Next