A producer’s supply function is given by the equation:
where Qs s is the quantity of steel supplied by the market, Ps is the per-unit price of steel, and Pa is the per-unit price of aluminum.
Assume the supply side of the market consists of exactly five identical sellers. If the unit price of aluminum is 20, which equation is closest to the expression for the market inverse supply function?
A. Ps ¼ 9:6 þ 0:04Qs s
B. Ps ¼ 1:1 þ 0:008Qs s
C. Qs s ¼ 145 þ 130Ps
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