(Advanced Analysis)The Equation for the Supply Curve in the Below

question 91

Multiple Choice

(Advanced analysis) The equation for the supply curve in the below diagram is approximately:

• A) P = 4 + ¹/₃Q.
• B) P = 4 + 2Q.
• C) P = 4 + 3Q.
• D) P = 4 - 3Q.

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Definitions:

Equipment

Machinery or tools necessary for a particular activity, task, or for the operation of a business.

Secured Creditor

A creditor that has a legal interest, usually called a lien, in a debtor’s property, securing the debt and giving the creditor rights to the property if the debt is not repaid.

Collateral

Assets pledged by a borrower to secure a loan, which can be seized by the lender if the loan is not repaid.

Security Interest

A legal claim or lien on assets which secures the performance of an obligation, usually repayment of a loan.