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Assume a supply equation: C! = 0.1p 0.02pl- + 0.01N +0.01T0.1w where: p = own price pi: price of an input = $50 Q =
Assume a supply equation: C! = 0.1p 0.02pl- + 0.01N +0.01T0.1w where: p = own price pi: price of an input = $50 Q = quantity supplied N = number of rms = 100 {thousands of units) T 2 index of technology 2 mo w = wage rate = $71) The quantity.' supplied as a function of the price can be written: up If the price of the good is $28, what would be the quantity supplied? El thousand units. (enters real number rounded to one decimal place)
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