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Answer to Question #270916 in Microeconomics for Keertana

Question #270916

Derive supply function in a graf




1
Expert's answer
2021-11-25T19:59:59-0500

To calculate linear supply functions, we can follow a simple four-step process:

(1) Write down the basic linear function

(2) Find two ordered pairs of price and quantity

(3) Calculate the slope of the supply function

(4) Calculate its y-intercept.


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