Quote:
Originally Posted by Ximonoce
Thank you, very much, bro Would you please explain that how you derive the demand function from the demand shedule, please share the rules and princplz of deriving ths demand and supply functions.
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Suppose we have
prices Quantity
15 55
10 40
5 25
0 10
5 25
10 40
now in Quantity Supply Function
Qs= intercept + slop(Price)
Qs= Quantity Supply
Intercept= The Quantity where price become zero
Slop= change in quantity supply due to change in price...
"+" indicates the positive relation between Qs and P....
we can easily find Quantity supply function...
Qs= 10 + 3P