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6 January, 12:46

Suppose the supply function for product x is given by qxs = - 30 + 2px - 4pz.

a. how much of product x is produced when px = $600 and pz = $60?

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  1. 6 January, 13:10
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    Replace the variables with their values and do the arithmetic.

    qxs = - 30 + 2 (600) - 4 (60) = - 30 + 1200 - 240

    qxs = 930

    930 of product x is produced.
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