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Question
The supply S for a commodity at price P is given by S = P2 + 9P − 2. Find the marginal supply when price is 7/-.
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Solution
Given, S = P2 + 9P – 2
Marginal supply = `("dS")/("dP")`
= `"d"/("dP")("P"^2 + 9"P" -2)`
= `"d"/("dP")("P"^2) + 9"d"/("dP")("P") - "d"/("dP")(2)`
= 2P + 9(1) – 0
= 2P + 9
When P = 7,
Marginal supply =`(("dS")/("dP"))_("P" = 7)`
= 2(7) + 9
= 14 + 9
= 23
∴ Marginal supply is 23, at P = 7.
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