The Y- Axis Intercept of the Supply Curve Is 40

question 145

Multiple Choice

The y- axis intercept of the supply curve is 40 and the slope is 6.The equation of the supply curve is

• A)P = 3 + 40Q_S.
• B)P = 40 + 6Q_S.
• C)P = 40 - 6Q_S.
• D)Q_S = 40 + 6P.
• E)Q_S = 40 - 6P.

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Definitions:

Surplus Of Product

A situation in which the quantity of a product supplied exceeds the quantity demanded, typically resulting in excess stock.

Equilibrium Level

The condition where the supply and demand in the market are equal, leading to steady prices and quantities.

Demand Curve

A graphical representation that shows the relationship between the price of a good and the quantity demanded by consumers.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a given price level in a given period.