Question: The supply function for good X is given by Q s x = 197 + 4Px - 3Pz - 5Pw where Px is the price

The supply function for good X is given by

Qsx= 197 + 4Px - 3Pz - 5Pw

where Px is the price of X, Pz is the price of good Z, and Pw is the price of input W.

If Pz = 25, and Pw = 30.

(e) Write the algebraic form of the supply curve

(f) Use the information to graph the supply curve

(g) Use the market clearing condition to calculate the equilibrium price and quantity.

(h) Calculate the own-price elasticity of demand at equilibrium price.

(i) Calculate the cross-price elasticity of demand at equilibrium price.

(j) Calculate the income elasticity of demand at equilibrium price.

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