Question: Suppose that the supply function for lamb in Australia is Q = 149 + 8p - 9Ps where Q is the quantity in millions of

Suppose that the supply function for lamb in Australia is Q = 149 + 8p - 9Ps where Q is the quantity in millions of kg of lamb per year, and p and Ps are the prices of lamb and sheep, respectively, in Australian dollars per kg. How does the supply curve change if the price of sheep increases from AU$5 to AU$5.50 per kg?

IMG_2184.HEIC v > > Q 2 .1 ) 2 = 149 + 8p - 9ps Attain Holding p constant 2 = 149- 9 ps. 22 = 149 - 9 ( Ps, 1 50808 42 = 22- Q1 = - 9 ( PS2 - Ps, ) = - 9 APS is $2.5 DPS = 0-5 D 2 = -960.5) - - 4-5

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