The Supply Function for a Product Is Given by

question 35

Multiple Choice

The supply function for a product is given by , where x is the number of units supplied and p is the price in dollars. If the price is increasing at a rate of $1 per month, at what rate is the supply changing when Round your answer to three decimal places. ​

• A)0.013 units per month
• B)0.299 units per month
• C)0.043 units per month
• D)0.066 units per month
• E)0.033 units per month

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Definitions:

Advertised Price

The price of a product or service that is publicly promoted or communicated to potential customers.

House Brand

A product that is marketed and sold by a retailer under its own brand name, as opposed to a brand name owned by a supplier.

UPC Bar Code

Universal Product Code; a barcode symbology used for tracking trade items in stores primarily in the United States.

Consumer Protection Act

A set of laws designed to protect the rights and interests of consumers by regulating fair trade, competition, and accurate information in the marketplace.