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Supply Analysis Suppose that the supply function for honey is P = S(q) = 0.39 + 1 where Pis the price in dollars for an 8-oz
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Answer #1

Price (P) is given in question as $8 and Quantity(q) we have to find out by putting given values in given equation.

P=0.3q+1

putting P=$8 in the above equation and find out q by solving the equation

$ 8 = 0.3 * q +1

by rearranging we get, q= ( 8 - 1 ) / 0.3 = 23 (rounded to nearest whole number)

Conclussion

Quality supplied at the price of $ 8 is 23 units of 8-oz containers

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