Answer to Question #273310 in Economics for Catherine

Question

Assuming the supply function is given as: Qs=+5P Determine the quantity

supplied of fish in kilos at a given prices

Price of Fish (per Kilo) Supply (in kilos)

P 20

40

60

80

100

Illustration:

Given:

Required:

Solution:

Answer 1

$$Q|_{p=20}=100$$

$$Q|_{p=40}=200$$

$$Q|_{p=60}=300$$

$$Q|_{p=80}=400$$

$$Q|_{p=100}=500$$