21613 21 PT The general supply function is Q5 = 40 + 4P - 8P, + 6F , where Qd = quantity supplied per month, P = the price of the commodity, P, = price of an input, and F = number of sellers. a. The supply function when P, = $90 and F = 20 is . The supply function intersects the price axis at a price of 3': Using the supply function in part a, the quantity supplied when the price of the commodity is $300 is units per month. 1When the price is $400, the quantity supplied is units per month. The INVERSE supply equation (for part a) is . The supply price for 750 units per month is 5 Suppose that the demand and supply functions for good X are Q; = T5 3P Q'5 = 2{}+ 6.5P Equilibrium price is $ and equilibrium quantity is units. If price is 53, then a of units occurs. If price is $12, then a of units occurs. Let the demand function change to Qd=3{}|5P. Given the ORIGINAL supply function, the equilibrium price is $ and equilibrium quantity is units. Let the supply function change to Q5 = '4{}+12P. Given the ORIGINAL demand function, the equilibrium price is $ and equilibrium quantity is units