ANSWER:
When price is $12 , total quantity supplied by firm x and y is 8 + 16 = 24
When price is $15 , total quantity supplied by firm x and y is 10 + 20 = 30
Increase in quantity supplied = 30 - 24 = 6
so option c is the right answer.
Table 4-8 Firm X's Firm Z's Firm Y's Quantity Quantity Quantity Supplied Price Supplied Supplied $0...
4 Firm W's Firm X's Firm Y's Firm Z's Quantity Quantity Quantity Quantity Price Supplied Supplied Supplied Supplied $0 0 0 $4 2 4 $8 4. 10 8 6 $12 6 15 12 $16 8 20 16 12 $20 10 25 20 15 Refer to the Table. If these are the only four sellers in the market, when the price decreases by $4, the market quantity supplied A O increases by 14 units. ВО increases by 7 units. c O...
Table 7-16 Quantity Demanded Quantity Supplied 36 30 Price $12.00 $10.00 $ 8.00 $6.00 $ 4.00 $ 2.00 $ 0.00 10 3 6 24 18 12 6 12 15 18 0 60. Refer to Table 7-16. Both the demand curve and the supply curve are straight lines. If the price is $4 but only 6 units are bought and sold, consumer surplus will be a. $21. b.$28. C. $36
Table 1 Price Quantity Quantity Demanded Supplied $0 10 12 Refer to Table 1. Suppose the government imposes a price floor of $5 on this market. What will be the size of the surplus in this market? Select one: a. O units b. 2 units • c. 8 units d. 10 units Clear my choice
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Exhibit 3-12 -----------------------------Quantity Supplied -------------------------------------- Price Aline Bentley Calvin Daniel Market $6 20 21 8 0 (A) 7 22 23 10 4 (B) 8 24 25 13 9 (C) 9 26 27 17 14 (D) 10 28 29 22 20 (E) 11 30 31 32 38 (F) Assume that Aline, Bentley, Calvin, and Daniel are the only sellers in this market. Refer to Exhibit 3-12. Fill in blanks (A) and (B) respectively with the market quantity supplied at each given...
A monopolistically competitive firm faces the following demand curve for its product: 6 Price ($) Quantity 10 2 9 4 8 6 7 8 5 12 4 14 3 16 2 18 1 20 10 Refer to the Table. The firm has total fixed costs of $20 and a constant marginal cost of $5 per unit. What will the firm do? a) It will produce 2 units; firms will exit the market in the long run. b) It will produce...
Table 2: Market Quantity Supplied and Demanded Data for Good X Market Quantity Quantity Prices | Supplied Demanded P) (O) (od S4.00 4 10 $5.00 6 8 S6.00 $7.00 10 $8.00 12 Exhibit 2.4: Fim X's Points of Production on Iis PPF Points ABCD Capital Goods (K) 30,00 27.00 21.00 12.000.00 Consumption Goods (C) 0.00 10.00 20.00 | 30.00 40.00 4) Refer to Exhibit 2-4. In moving production allocations from points D to B on the Production Possibilities Frontier or...
At the current price, the quantity demanded is (greater or less) than the quantity supplied. This means that the market is currently experiencing a (surplus or shortage). In order to adjust, the market price will (decrease or increase) until the quantity demanded and quantity supplied are equal. The result is an equilibrium quantity of ________ and an equilibrium price of $ _________. Back to Assignment Attempts: Average: 1 1. Working Numbers and Graphs Q1 Suppose the current price of a...
Question 17 3 pts Refer to Table 4-1. c D E 1 2 3 A Price $12 $10 $8 $6 $4 $2 B D 5 8 11 13 16 18 S 19 17 15 13 11 9 4 S2 14 12 10 8 9 12 15 18 21 24 5 6 7 4 Table 4-1 Suppose that D1 and S1 are the prevailing demand and supply curves for a product. If the demand schedule changes from D1 to D2, then:...