Assume the Supply Function of Ice Cream Is Written As

question 39

Multiple Choice

Assume the supply function of ice cream is written as: Qs = 100 + 20P - 10Pm,where Qs is the quantity supplied,P is price of ice cream,and Pm is the price of milk ($/gallon) .If milk price is held fixed at $4/gallon,what is the slope of supply function for ice cream?

• A)-10
• B)10
• C)-20
• D)20

---

Definitions:

Fair Labor Standards Act

A United States federal law that establishes minimum wage, overtime pay eligibility, recordkeeping, and child labor standards affecting full-time and part-time workers.

Retail Clerk

An employee in a retail setting responsible for interacting with customers, handling transactions, and assisting with sales and inventory.

Tenured College Professor

A faculty member whose position is permanently secured, usually after a probationary period, protecting them from arbitrary dismissal.

Comparable Worth

The concept that jobs requiring comparable skills, effort, responsibility, and working conditions should be paid equally.