Suppose the supply function for product x is given by qxs = – 30 +

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Suppose the supply function for product x is given by qxs = – 30 +

Suppose the supply function for product X is given by QXS = – 30 + 2Px – 4Pz.

a. How much of product X is produced when Px = $600 and Pz = $60?
b. How much of product X is produced when Px = $80 and Pz = $60?

c. Suppose Pz = $60. Determine the supply function and inverse supply function for good X. Graph the inverse supply function.

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