Price (Php/kg) 20 25 Quantity Supplied (qs) of Palay in Luzon (in billion kg) 11 12 Quantity Supplied (qs) of Palay in Visayas (in billion kg) 3.0 3.5 Quantity Supplied (qs) of Palay in Mindanao (in billion kg) 4.0 4.5 Quantity Supplied (qs) of Palay in the Philippines (in billion kg) 1. In one figure, graph the supply curve in Luzon (sL), Visayas (sV), Mindanao (sM) and the market supply curve in the Philippines (SP). 2. Express the individual supply curves and the market supply curve in equation form. 3. Interpret the slope and the intercept of the market supply curve.

Price (Php/kg) 20 25 Quantity Supplied (qs) of Palay in Luzon (in billion kg) 11 12 Quantity Supplied (qs) of Palay in Visayas (in billion kg) 3.0 3.5 Quantity Supplied (qs) of Palay in Mindanao (in billion kg) 4.0 4.5 Quantity Supplied (qs) of Palay in the Philippines (in billion kg) 1. In one figure, graph the supply curve in Luzon (sL), Visayas (sV), Mindanao (sM) and the market supply curve in the Philippines (SP). 2. Express the individual supply curves and the market supply curve in equation form. 3. Interpret the slope and the intercept of the market supply curve.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Concept explainers

Financial Statements

Financial statements (or financial reports) are the formal records of the financial activities that are undertaken by a firm. They are convenient instruments used for analyzing a company’s financial position and performance. Financial ratios are created with the help of the numerical values that are derived from the financial statements. They give meaningful information about the financial performance of the company.

Question

Price (Php/kg)
20
25
Quantity
Supplied (qs) of
Palay in Luzon
(in billion kg)
11
12
Quantity
Supplied (qs) of
Palay in Visayas
(in billion kg)
4. Compute and interpret
from PhP 20 to PhP 25.
3.0
3.5
Quantity
Supplied (qs) of
Palay in
Mindanao (in
billion kg)
4.0
4.5
Quantity
Supplied (qs) of
Palay in the
Philippines (in
billion kg)
1. In one figure, graph the supply curve in Luzon (sL), Visayas (SV), Mindanao (SM) and the market
supply curve in the Philippines (SP).
2. Express the individual supply curves and the market supply curve in equation form.
3. Interpret the slope and the intercept of the market supply curve.
the point elasticity of market supply of palay as price increases

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