Supply

The supply function indicates the quantity of product that producers produce at different prices.

Example

The supply for bananas follows the equation: `Q_s = 3 + 2P`.

If bananas are sold for $3, the quantity supplied is `Q_s = 3 + 2 \times 3 = 9` bananas.

Question

The supply equation for cookies is `Q_s = 76 + 11 \times P`.

If cookies were sold for $64, how many cookies will be produced?

Plug the price $64 into the demand function:

`Q_s = 76 + 11 \times P = 76 + 11 \times 64 = 780`.