Assume the following equation: [ Q_{x}^{s}=-4+1 / 2 P_{x}-2 W ] where (Q_{x}^{s}) is the quantity of

Question:

Assume the following equation:

\[
Q_{x}^{s}=-4+1 / 2 P_{x}-2 W
\]
where \(Q_{x}^{s}\) is the quantity of good \(X\) supplied, \(P_{x}\) is the price of good \(X\), and \(W\) is the wage rate paid to laborers. If the wage rate is 11 , the vertical intercept on a graph depicting the supply curve is closest to:
A. -26 .
B. -4 .
C. 52 .

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Economics For Investment Decision Makers

ISBN: 9781118111963

1st Edition

Authors: Sandeep Singh, Christopher D Piros, Jerald E Pinto

Question Posted: