4. The estimated supply function for avocados is Q = 58 + 15p -20pf, where pf is the price of fertilizer. Determine how much the supply curve for avocados shifts if the price of fertilizer rises by $1.10 per lb. Illustrate this shift in a diagram.

4. The estimated supply function for avocados is Q = 58 + 15p -20pf, where pf is the price of fertilizer. Determine how much the supply curve for avocados shifts if the price of fertilizer rises by $1.10 per lb. Illustrate this shift in a diagram.

Principles of Macroeconomics (MindTap Course List)

8th Edition

ISBN:9781305971509

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter4: The Market Forces Of Supply And Demand

Section: Chapter Questions

Problem 3CQQ

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4. The estimated supply function for avocados is Q = 58 + 15p - 20pf, where pf is the
price of fertilizer.
Determine how much the supply curve for avocados shifts if the price of fertilizer rises by $1.10
per lb. Illustrate this shift in a diagram.
JL

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