Answer to Question #83973 in Microeconomics for iyyaz ahmad

Question

if QSx=20Px calculate (a) the producer,s supply sechedule (b) producer supply curve (c) what things have been kept constant in this equation

Answer 1

QSx = 20Px.

(a) the producer's supply schedule is:

Px QSx

0 0

5 100

10 200

15 300

20 400

25 500

(b) producer supply curve in this case is a straight line drawn through the points from the supply schedule above.

(c) The coefficient 20 has been kept constant in this equation.