Two points (p, q) on a linear supply function are ($2.55, 98,000) and ($6, 195,500). a) Detemine the supply function q = f(p). b) What price would result in supplier offering 145,000 units for sale? c) Interpret the slope of the function. d) Determine the p intercept. e) Sketch f(p)

Elementary Geometry For College Students, 7e
7th Edition
ISBN:9781337614085
Author:Alexander, Daniel C.; Koeberlein, Geralyn M.
Publisher:Alexander, Daniel C.; Koeberlein, Geralyn M.
Chapter10: Analytic Geometry
Section10.5: Equations Of Lines
Problem 26E
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Two points (p, q) on a linear supply function are ($2.55, 98,000) and ($6, 195,500).
a) Detemine the supply function q = f(p).
b) What price would result in supplier offering 145,000 units for sale?
c) Interpret the slope of the function.
d) Determine the p intercept.
e) Sketch f(p)
Transcribed Image Text:Two points (p, q) on a linear supply function are ($2.55, 98,000) and ($6, 195,500). a) Detemine the supply function q = f(p). b) What price would result in supplier offering 145,000 units for sale? c) Interpret the slope of the function. d) Determine the p intercept. e) Sketch f(p)
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9781337614085
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