Given the supply function P = 1/4(Qs+10) when P = N10, what is Qs?
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Correct Answer: Option A
Explanation:
P = 1/4(Qs+10) when P = N10, what is Qs?
when p = 10
Qs = 1/4 (10 + 10)
Qs = 1/4 (20)
Qs =20
P = 1/4(Qs+10) when P = N10, what is Qs?
when p = 10
Qs = 1/4 (10 + 10)
Qs = 1/4 (20)
Qs =20