1. In one figure, graph the supply curve in Luzon (sL), Visayas (sV), Mindanao (sM) and themarket supply curve in the Philippines (SP). 2. Express the individual supply curves and the market supply curve in equation form.3. Interpret the slope and the intercept of the market supply curve. Individual and Market Supply CurveQuantityPrice Supplied (gs) ofPalay in Luzon(PhP/kg)(in billion kg)11122025QuantitySupplied (qs) ofPalay in Visayas(in billion kg)3.03.5Quantity Supplied(qs) of Palay inMindanao (inbillion kg)4.04.5Quantity Supplied(Qs) of Palay in thePhilippines (inbillion kg)

Answered: 1. In one figure, graph the supply…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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1. In one figure, graph the supply curve in Luzon (sL), Visayas (sV), Mindanao (sM) and the
market supply curve in the Philippines (SP).
2. Express the individual supply curves and the market supply curve in equation form.
3. Interpret the slope and the intercept of the market supply curve.

Individual and Market Supply Curve
Quantity
Price Supplied (gs) of
Palay in Luzon
(PhP/kg)
(in billion kg)
11
12
20
25
Quantity
Supplied (qs) of
Palay in Visayas
(in billion kg)
3.0
3.5
Quantity Supplied
(qs) of Palay in
Mindanao (in
billion kg)
4.0
4.5
Quantity Supplied
(Qs) of Palay in the
Philippines (in
billion kg)

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