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AP Microeconomics/Unit 2: Supply and Demand
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Linear Supply Function Interpretation

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For the supply function Qs=2+3PQ_s = 2 + 3P, what is the change in the quantity supplied when the price increases by $1?

A

The quantity supplied increases by 2 units for every $1 increase in price.

B

There is no change in the quantity supplied with a change in price.

C

The quantity supplied decreases by 3 units for every $1 increase in price.

D

The quantity supplied increases by 3 units for every $1 increase in price.

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