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Find the linear supply function satisfying the following conditions: the minimum price for which there is any supply is $\$ 3 .$ For every dollar increase in price, the supply will go up 2.5 units.

$2 x-5 p+15=0$

Algebra

Chapter 1

Functions and their Applications

Section 6

Economic Functions

Functions

Oregon State University

Baylor University

University of Michigan - Ann Arbor

Lectures

01:43

In mathematics, a function is a relation between a set of inputs and a set of permissible outputs with the property that each input is related to exactly one output. An example is the function that relates each real number x to its square x^2. The output of a function f corresponding to an input x is denoted by f(x).

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Find the linear supply fun…

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Here we want to find the linear supply function satisfying following conditions. The minimum price for which there is any supply is $3. For every dollar increase in price, the supply will grow by 2.5 units. So we know that um The minimum price is $3 and then um for every increase in price. So this is the linear supply function, so we have minus the five -2.5. Every increase in price Supply goes up by 2.5. So um What we're going to end up having is $3 starting off, And then this will end up resulting in two X -5 plus 15 equals zero.

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