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Use the Following General Linear Supply Function to Answer the Next

Question 19

Multiple Choice

Use the following general linear supply function to answer the next 6 questions:
Use the following general linear supply function to answer the next 6 questions: where is the quantity supplied of the good, P<sub>I</sub> is the price of the good, is the price of an input, and F is the number of firms producing the good. -Suppose = $40, F = 50, and the demand function is , then if government sets a price of $50 what will be the result? A) a shortage of 120 B) a surplus of 120 C) a shortage of 160 D) a surplus of 160
whereUse the following general linear supply function to answer the next 6 questions: where is the quantity supplied of the good, P<sub>I</sub> is the price of the good, is the price of an input, and F is the number of firms producing the good. -Suppose = $40, F = 50, and the demand function is , then if government sets a price of $50 what will be the result? A) a shortage of 120 B) a surplus of 120 C) a shortage of 160 D) a surplus of 160 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.
-Suppose
Use the following general linear supply function to answer the next 6 questions: where is the quantity supplied of the good, P<sub>I</sub> is the price of the good, is the price of an input, and F is the number of firms producing the good. -Suppose = $40, F = 50, and the demand function is , then if government sets a price of $50 what will be the result? A) a shortage of 120 B) a surplus of 120 C) a shortage of 160 D) a surplus of 160
= $40, F = 50, and the demand function is
Use the following general linear supply function to answer the next 6 questions: where is the quantity supplied of the good, P<sub>I</sub> is the price of the good, is the price of an input, and F is the number of firms producing the good. -Suppose = $40, F = 50, and the demand function is , then if government sets a price of $50 what will be the result? A) a shortage of 120 B) a surplus of 120 C) a shortage of 160 D) a surplus of 160
, then if government sets a price of $50 what will be the result?


A) a shortage of 120
B) a surplus of 120
C) a shortage of 160
D) a surplus of 160

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