Question: The supply function of a certain commodity is:Q = a + bP 2 + R 1 2 (a < 0, b > 0) Here: R

The supply function of a certain commodity is:Q = a + bP
2 + R
1
2 (a < 0, b > 0)
Here: R is rainfall

(i) Find price elasticity of supply and rainfall elasticity of supply.
(ii) How do the elasticities vary with P and R?

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