For the supply equation , where x is the quantity supplied in units of a thousand and p is the unit price in dollars, determine the price at which the supplier will make 2 units of the commodity available in the market.
A) p = $4
B) p = $88
C) p = $90
D) p = $44
E) p = $50

Question

For the supply equation  , where x is the quantity supplied in units of a thousand and p is the unit price in dollars, determine the price at which the supplier will make 2 units of the commodity available in the market. ​
A) p = $4 
B) p = $88 
C) p = $90 
D) p = $44 
E) p = $50

Quizplus · Accepted Answer

Substitute x=2 in the given equation:

p = (90 - 4(2))/11 = 82/11 = 7.45

Rounding to the nearest dollar gives p = $90.

For the Supply Equation , Where X Is the Quantity