1. The following general supply function shows the quantity of good X that producers offer for sale (Q.):

Q. = 19 + 20P, - 10P, + 6T - 32P, - 20P, + 5F

where P, is the price of X. P, is the price of labor, T is an index measuring the level of technology, P, is the price of a good R that is related in production, P, is the expected future price of good X and F is the number of firms in the industry.

1. Determine the equation of the supply curve for X when P, = 8, T = 4, P, = 4, P, = 5, and F = 47. Plot this supply curve on a graph.
2. Suppose the price of labor increases from 8 to 9. Find the equation of the new sup. ply curve. Plot the new supply curve on a graph.
3. Is the good related in production a complement or a substitute in production? Explain.
4. What is the correct way to interpret each of the coefficients in the general supply function given above.