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Given the pork supply function Q = 178 + 40p - 60p_h. how does the supply function, Q = 88 + 40p. change if the price of hogs increases from $1.50 to $1.90 per kg? If the price of hogs increases to $1.90 per kg, then the supply function will be Q =

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Answer:

Explanation:

The supply function of pork Q = 178 + 40p - 60p_h

When the price of hog is 1.50:

Q = 178 + 40p - 60(1.50)

= 178 +40p -90 = 88+40p

When the price of hog increases to 1.90:

Q = 178 + 40p - 60(1.90)

= 178 +40p - 114 = 64+40p