Question: Suppose the supply function for product X is given by Q X S = - 30+2P x -4P z Instruction: enter all values as integers,

Suppose the supply function for product X is given by QXS= - 30+2Px-4Pz

Instruction: enter all values as integers, or if needed, a decimal rounded to one decimal place.

a. how much of product X is produced when Px=$600 and Pz=$60?

answer:___________

b. how much of product X is produced when Px=$80 and Pz=$60?

answer:____________

c. Suppose Pz=$60. Determine the supply function and inverse supply function for good X. Graph the inverse supply function.

Supply Function: QXS=__________+___________Px

Inverse supply funtion: PX=___________+___________QXS

Instruction. use the tool provided "S" to graph the inverse supply function from QX=0 to QX =200 (two points total)

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