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We can use the standard linear equation formula y=m×x+b where m is slope and b is intercept. M(Supply Curve) = ($130-$100) / (3000-750) = $0.01333/unit. B(Supply Curve) = $100-($0.013333/unit)*750units = $90. Linear Supply Curve Formula: QS(Quantity Supplied) = -6750 + 75P.
In its most basic form, a linear supply function looks as follows: y = MX + b. In this case, x and y represent the independent and dependent variables. Meanwhile, m shows the slope of the function, and b represents its y-intersect (i.e., the point where the function intersects the y-axis).
3:23 5:27 Suggested clip Finding Equilibrium using Linear Demand and Supply Equations YouTubeStart of suggested client of suggested clip Finding Equilibrium using Linear Demand and Supply Equations
In its standard form a linear demand equation is Q = a — BP. That is, quantity demanded is a function of price. The inverse demand equation, or price equation, treats price as a function g of quantity demanded: P = f(Q).
In its most basic form, a linear supply function looks as follows: y = MX + b. In this case, x and y represent the independent and dependent variables. Meanwhile, m shows the slope of the function, and b represents its y-intersect (i.e., the point where the function intersects the y-axis).
A demand function is a mathematical equation which expresses the demand of a product or service as a function of the price and other factors such as the prices of the substitutes and complementary goods, income, etc. The most important factor is the price charged per kilometer.
We can use the standard linear equation formula y=m×x+b where m is slope and b is intercept. Since the equilibrium quantity (Q) and Price (P) in an ideal micro-econ market is determined by the point of intersection of the supply and demand curves we simply have to substitute one equation into the other.
3:23 5:27 Suggested clip Finding Equilibrium using Linear Demand and Supply Equations YouTubeStart of suggested client of suggested clip Finding Equilibrium using Linear Demand and Supply Equations

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