Suppose the supply function for avocados (in avocados per month) isQ = 58 + 15p – 20pf,where p; is the price of fertilizer per Ib. If the price of fertilizer rises by $1.80 perIb., how will this affect the supply curve for avocados?If the price of fertilizer rises by $1.80 per Ib., then the supply of avocados willchange by avocados per month at each price. (Enter your response as awhole number and include a minus sign if necessary.)个Using the line drawing tool, show how an increase in the price of fertilizer affectsthe avocado supply curve. Label this new supply curve 'S.Carefully follow the instructions above, and only draw the required object.Q, Quantity of avocados per monthp, $ per avocado

Increase in price is given by $ 1.80. We have to find the change in quantity.

Answered: Suppose the supply function for…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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