Finding Supply function/equation
For a certain commodity, the demand equation is given by
D = -5p + 50.
At a price of $1, twelve units of the commodity are supplied. If the supply equation is linear, and the market price is $4, find
the supply equation.© SolutionLibrary Inc. solutionlibary.com 9836dcf9d7 https://solutionlibrary.com/economics/microeconomics/finding-supply-function-equation-7gvl
...the supply curve (linear),
Supply at a price of $4 is 30 units
Supply at a price of $1 is 12 units
If we plot price on y axis and quantity on x axis, slope ...