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The supply function of commodity is given by Q =20 3 px. If the price is ₹ 6, then what is the quantity supplied?
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The supply function of commodity is given by Q =20 3 px. If the pric...
Calculation of Quantity Supplied


  • Supply function of commodity: Q = 20 + 3px

  • Price of the commodity given: ₹ 6

  • Substitute the given price value in the supply function:


    • Q = 20 + 3(6)

    • Q = 20 + 18

    • Q = 38


  • Therefore, the quantity supplied at a price of ₹ 6 is 38 units.




Explanation


  • The supply function of a commodity is a mathematical representation of the relationship between the quantity supplied of a commodity and its price.

  • In this case, the supply function is given by Q = 20 + 3px, where Q is the quantity supplied, p is the price of the commodity, and 20 is a constant.

  • To calculate the quantity supplied at a given price, we need to substitute the given price value in the supply function and solve for Q.

  • When the price of the commodity is ₹ 6, we substitute p = 6 in the supply function and get Q = 20 + 3(6) = 38.

  • Therefore, the quantity supplied at a price of ₹ 6 is 38 units.

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The supply function of commodity is given by Q =20 3 px. If the price is ₹ 6, then what is the quantity supplied?
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