Practise constructing and reading market supply curves, calculating their slope from functions, and explaining how coefficient changes affect steepness.
The market for corn on the island of Nissos is perfectly competitive. The demand and supply for corn in Nissos are given by the functions
where Q d is the quantity of corn demanded per month in millions of kilograms ( kg ), Q s is the quantity of corn supplied per month in millions of kg and P is the price per kg of corn in dollars ($).
Determine the slope of the market supply function for the corn farmers in Nissos.
(+) 1 is sufficient for [1].