duantity demand=60-8(p)
quantity supply-20+12(p)
P=1.6
WHAT IS QUANTITY SUPPLY?
To find the quantity supply, we can use the given equation for quantity supply:
quantity supply = 20 + 12p
Given that the value of p is 1.6, we can substitute it into the equation to calculate the quantity supply:
quantity supply = 20 + 12(1.6)
quantity supply = 20 + 19.2
quantity supply = 39.2
Therefore, the quantity supply, when p is equal to 1.6, is 39.2.