Question

Figure 2.22 Supply function P = 10 +0.5Q
Method B: Plot the horizontal and vertical intercepts calculated in part (a). Draw
the supply function by joining these points.
WORKED EXAMPLE 2.8
FURTHER ANALYSIS OF THE LINEAR SUPPLY FUNCTION
A supplier will only start to supply T-shirts when a price greater than £5 per
unit
is available. He or she will then increase output by 2 units (2 T-shirts) for every
unit increase in price.
(a) Plot the supply function in the form Q=f(P).
(b) Write down the equation of the supply function.
(c) Find the value of Q when P= 15 from the graph. Confirm your answer from
the equation
(d) Write the equation of the supply function in the form, P = h(Q), i.e. write P
in terms of Q. Plot the graph of Pin terms of Q.
Solution​

Answer 1

Answer:

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Answer 2

Answer:

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