The reduced form supply of crayons is given by the equation Qs = 20PT Suppose that supply changes so that at each price, 30 fewer crayons are offered for sale at every given price. Derive the graph and the new supply curve.

The reduced form supply of crayons is given by the equation Qs = 20PT Suppose that supply changes so that at each price, 30 fewer crayons are offered for sale at every given price. Derive the graph and the new supply curve.

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter3: Supply And Demand: Theory

Section3.3: The Market: Putting Supply And Demand Together

Problem 2ST

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The reduced form supply of crayons is given by the equation Q^s= 20_PT

_{Suppose that supply changes so that at each price, 30 fewer crayons are offered for sale at every given price. Derive the graph and the new supply curve.}

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