[Video] Q17: How will the quantity of the product supplied to the market change if the price of the product is increased by $10 ?

Explanation for Question 17 From the Math (Calc) Section on the Official Sat Practice Test 3

Now looking at number 17, we're given two equations, 2 right? We got a lot of information here. 3 So first I like to read the question, see what it's asking me. 4 And it says, how will the quantity of the product supplied to the market 5 change? If the price is increased by 10%, 6 right? So I'm looking for a price increase of 10. 7 And how does that change the quantity of products? 8 So now we're going to read this paragraph and it tells us the quantity 9 of products, supplied and quantity demanded are shown above, 10 right? So it's looking like SFP quantity supplied is, 11 um, probably what we're looking for here. This is probably our variable of interest. 12 It tells us that the function above estimate the supply and demand where SOP 13 gives the quantity of product supply it. Right. 14 That's what we saw here in our, in our question, um, 15 in P dollars when prices P so there's the price, 16 right? 17 We see we're going to increase that by 10 in the second. 18 Um, and DFP that's the quantity demanded for the price, 19 right? And so it tells us how will the, 20 the quantity supplied change when I increase the price by 10. 21 So let's go ahead. Let's, let's give ourselves an example, 22 right? Let's say that one price is, 23 is 20. And if I were to increase that by 10 to be 30, 24 so let's, let's plug those into our equation for 20, 25 it'd be one, half times 20 plus 40, 26 right? That's going to be 10 plus 40, 27 which is 50. So here we get a value of 50 for the supply. 28 ...