Considering those two points, find the equation of the supply.

Description

  1. Consider market supply curve which passes through the intercept and from which the market equilibrium data is known, this is, the price and quantity of equilibrium PE = 50 and QE=2000. (20 points)
  2. a. Considering those two points, find the equation of the supply.
  3. b. Draw a graph of this line.