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Suppose the Yearly Supply Function for a Particular Actor to Star

Question 63

Essay

Suppose the yearly supply function for a particular actor to star in a film is p = 150,000x.
(a)How many films per year is the actor willing to produce if he earns $300,000 per film?
(b)How many films per year is the actor willing to produce if he earns $900,000 per film?
(c)How does the amount supplied change as the price increases?

Correct Answer:

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(a)2 films per year
...

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