Hi, I have a question that I need some help on, and I would be extremely grateful if someone helped me out.
The demand function is:
P(Q) = 1000000 / ( (Q^1/4) + (Q^3/4) + 50000 )
and my product sells for P = £8.19. Assuming that the market for my product is in equilibrium, and that a manufacturing run of 200,000 component require a price of £5.00, what would be the supply function.
Thanks.