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  • Equation 2: Σxa+ Σx b= Σxy: 2. Interpretation

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    Jessica Cabanting Ong
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    Equation 2 and 3 set up two equations to solve for variables a and b, where step C solves for b=30 and a=-1350. Step D gives the equation for quantity supplied Qs=-1350+30p, showing that for every 30 unit increase in quantity supplied, there is a 1 peso increase in price, and vice versa for a decrease in quantity supplied.

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    Equation 2 and 3 set up two equations to solve for variables a and b, where step C solves for b=30 and a=-1350. Step D gives the equation for quantity supplied Qs=-1350+30p, showing that for every 30 unit increase in quantity supplied, there is a 1 peso increase in price, and vice versa for a decrease in quantity supplied.

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    © All Rights Reserved
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    8 views1 page

    Equation 2: Σxa+ Σx b= Σxy: 2. Interpretation

    Uploaded by

    Jessica Cabanting Ong
    Equation 2 and 3 set up two equations to solve for variables a and b, where step C solves for b=30 and a=-1350. Step D gives the equation for quantity supplied Qs=-1350+30p, showing that for every 30 unit increase in quantity supplied, there is a 1 peso increase in price, and vice versa for a decrease in quantity supplied.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    Equation 2: Σxa+ Σx2 b= Σxy

    300a+18,250b=142,500

    Equation 3: Q (Na+ Σxb = Σy)


    60(5a+300b=2,250)
    = 300a+18,000b=135,000

    Step C
    b= 300a+18,250b=142,500
    300a+18,000b=135,000
    250b=7,500
    250
    b= 30
    a= 5a+300b=2,250
    5a+300(30) =2,250
    5a+9000 =2,250
    5a=2250-6,750
    5a=-6750
    5
    a=-1,350
    Step D
    Qs=a+bp
    Qs= -1350+30p
    2. Interpretation:
    For every 30 units increase in Quantity supplied, there is a peso increase
    in price;
    For every 30 units decrease in Quantity supplied, there is a peso
    decrease in price.

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