Question

Two points (p,q) on a linear supply function are ($3.50,116,000) and ($5.00,180,000).

(a) determine the supply function q=f(p)?

(b) what price would result in suppliers offering 135,000 units for sale?

(c) intercept the slope of the function?

(d) determine and intercept the p intercept?

(e) sketch f(p)?


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Answer 1

Answer:

Determine and intercept the p intercept