If the quantity supplied of a particular commodity is represented by the Function, Qs = 2Op - 100, a) What is the quantity supplied at the price of i) GH¢12.00 ii) GH¢20.00 b) State the law of supply using the supply function

Here's the solution to your economics problem. The supply function is given as Q_s = 20P - 100. a) What is the quantity supplied at the price of: i) GH¢12.00 Step 1: Substitute P = 12 into the supply function. Q_s = 20(12) - 100 Step 2: Calculate the quantity supplied. Q_s = 240 - 100 Q_s = 140 The quantity supplied at GH¢12.00 is 140 units. ii) GH¢20.00 Step 1: Substitute P = 20 into the supply function. Q_s = 20(20) - 100 Step 2: Calculate the quantity supplied. Q_s = 400 - 100 Q_s = 300 The quantity supplied at GH¢20.00 is 300 units. b) State the law of Supply using the Supply Function. The law of supply states that, all else being equal, as the price of a good or service increases, the quantity supplied will also increase, and vice versa. In the given supply function, Q_s = 20P - 100, the positive coefficient of P (which is 20) indicates a direct relationship between price (P) and quantity supplied (Q_s), consistent with the law of supply. Send me the next one 📸