Discover the best answers to your questions with the help of IDNLearn.com. Discover comprehensive answers to your questions from our community of experienced professionals.
Sagot :
From the information given about the producer, the linear supply function will be p = 94.17x + 1382.55.
How to solve the linear supply function
The equation of the linear supply is given as mx + c.
From the information given, the equation will be:
30 = (15 × m) + c
30 = 15m + c
Also, the second equation will be:
595 = (21 × m) + c
595 = 21m + c
Subtract equation i from ii.
(595 - 30) = 21m - 15m
565 = 6m
m = 565/6 = 94.17
Therefore, we will put the value of m into the equation. This will be:
30 = 15m + c
30 = (15 × 94.17) + c
30 = 1412.55 + c
c = 1412.55 - 30
c = 1382.55
Therefore, the equation will be p = 94.17x + 1382.55.
Learn more about linear function on:
https://brainly.com/question/15602982
Your engagement is important to us. Keep sharing your knowledge and experiences. Let's create a learning environment that is both enjoyable and beneficial. Your questions find answers at IDNLearn.com. Thanks for visiting, and come back for more accurate and reliable solutions.
