Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. use 41the following general linear supply function

Use 41the following general linear supply function: Qs = 40 + 6P 8PI +...

60.1K

Verified Solution

Question

Accounting

Use 41the following general linear supply function:

Qs = 40 + 6P 8PI + 10F

where Qs is the quantity supplied of the good, P is the price of the good, PI is the price of an input, and F is the number of firms producing the good. If PI = $20, F = 60, and the demand function is Qd = 600 6P the equilibrium price and quantity are, respectively,

Multiple Choice

P = $10 and Q = 640.

P = $8 and Q = 326.

P = $10 and Q = 540.

P = $8 and Q = 640.

None of the choices is correct.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Chemistry
1.2K views

Discuss differences in ordering of the aluminum in the tetrahedral site of each of the potassium...

Physics
1.2K views

A naval gun aboard a ship is mounted so as to fire at 30â—¦above the horizontal.Shells...

General Management
1.2K views

Identify and describe the Eight Dimensions of Organizational Capacity for Change (OCC). For each Dimension, discuss...

Basic Math
1.2K views

1a)state the properties of characteristics roots 1b)state the features of principal component analysis 1c)what are the aims...

Biology
1.2K views

The secondary immune response is the primary response O Longer lasting O Less effective Slower...

Physics
1.2K views

As shown in the figure below a rectangular block of mass M and length L...

Calculus
1.2K views

7 Evaluate In x dx c x lnx 2xlnx 2x C x lnx 2 2xlnx...

Algebra
1.2K views

1 Knowledge Understanding 8 6 6 marks a Write each of the following as a...

Accounting
1.2K views

On July 1,2014, CAP1 Banking Corp. issued $4,000,000 of 10-year, 8% bonds at 97. CAP1...

Accounting
1.2K views

Marigold WaterWorks manufactures snorkel gear. During the past month, Washington purchased 3,400 pounds of plastic...

Accounting
1.2K views

Julie is preparing Forms 1099 for her employer. Generally. Forms 1099 are not propared or...

Accounting
1.2K views

Fruitasia purchased land, a building, and equipment for $800,000. The estimated fair values of the...