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Suppliers of transistor radios will market 10,000 units when the unit price is $20 and 62,500 units when the unit price is $35. Determine the supply function if it is known to have the form
P = a¡Ìx+b (a ¡Ý0, b ¡Ý 0)
Where x is the quantity supplied and p is the unit price in dollars. Sketch the graph of the supply supply function. What unit price will induce the supplier to make 40,000 transitor radios available in the marketplace?
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