Find the lowest price at which the product would be supplied, Microeconomics

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Find the lowest price at which the product would be supplied

Problem

For each 25% increase in the unit price, 200 more calculators are supplied. When the price per calculator is P400, 500 more calculators are supplied. Assuming a linear relationship between price and quantity:

a. Setup the supply function

b. Find the lowest price at which this product would be supplied.

c. How many calculators will be supplied if the unit price is P200?

d. Sketch the graph.

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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Microeconomics: Find the lowest price at which the product would be supplied

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