87 Suppose the supply function for avocados (in avocados per month) is Q=58+15p-20pf, where pf is the price of fertilizer per lb. If the price of fertilizer rises by $1.20 per lb., how will this affect the supply curve for avocados? If the price of fertilizer rises by $1.20 per lb., then the supply of avocados will change by ☐ avocados per month at each price. (Enter your response as a whole number and include a minus sign if necessary.) Using the line drawing tool, show how an increase in the price of fertilizer affects the avocado supply curve. Label this new supply curve 'S². Carefully follow the instructions above, and only draw the required object. C p, $ per avocado Q, Quantity of avocados per month
87 Suppose the supply function for avocados (in avocados per month) is Q=58+15p-20pf, where pf is the price of fertilizer per lb. If the price of fertilizer rises by $1.20 per lb., how will this affect the supply curve for avocados? If the price of fertilizer rises by $1.20 per lb., then the supply of avocados will change by ☐ avocados per month at each price. (Enter your response as a whole number and include a minus sign if necessary.) Using the line drawing tool, show how an increase in the price of fertilizer affects the avocado supply curve. Label this new supply curve 'S². Carefully follow the instructions above, and only draw the required object. C p, $ per avocado Q, Quantity of avocados per month
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter6: Consumer Choices
Section: Chapter Questions
Problem 17P: If a 10 decrease in the price of one product that you buy causes an 8 increase in quantity demanded...
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Transcribed Image Text:87
Suppose the supply function for avocados (in avocados
per month) is
Q=58+15p-20pf,
where pf is the price of fertilizer per lb. If the price of
fertilizer rises by $1.20 per lb., how will this affect the
supply curve for avocados?
If the price of fertilizer rises by $1.20 per lb., then the
supply of avocados will change by ☐ avocados per month
at each price. (Enter your response as a whole number
and include a minus sign if necessary.)
Using the line drawing tool, show how an increase in the
price of fertilizer affects the avocado supply curve. Label
this new supply curve 'S².
Carefully follow the instructions above, and only draw the
required object.
C
p, $ per avocado
Q, Quantity of avocados per month
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