Exhibit 3-5 Supply for Tucker's Cola Data

Quantity supplied per week
(millions of gallons)

Price per
gallon

6

$3.00

5

2.50

4

2.00

3

1.50

2

1.00

1

.50

-Exhibit 3-5 shows the supply schedule for Tucker's Cola. Suppose there are four additional suppliers of cola in the market. When the price per gallon of cola is $1.50, the first supplier is willing to sell 10 million gallons, the second supplier is willing to sell 2 million gallons, the third supplier is willing to sell 5 million gallons, and the fourth supplier is willing to sell 0 gallons. The market quantity supplied of cola when the price is $1.50 is

Question

Exhibit 3-5 Supply for Tucker's Cola Data

Quantity supplied per week (millions of gallons)	Price per gallon
6	$3.00
5	2.50
4	2.00
3	1.50
2	1.00
1	.50

-Exhibit 3-5 shows the supply schedule for Tucker's Cola. Suppose there are four additional suppliers of cola in the market. When the price per gallon of cola is $1.50, the first supplier is willing to sell 10 million gallons, the second supplier is willing to sell 2 million gallons, the third supplier is willing to sell 5 million gallons, and the fourth supplier is willing to sell 0 gallons. The market quantity supplied of cola when the price is $1.50 is

Quizplus · Accepted Answer

To find the market quantity supplied of cola when the price is $1.50, we need to add up the quantities supplied by all five suppliers at that price. Here is the table of quantities supplied at $1.50:

Quantity supplied per week (millions of gallons)	Price per gallon
6	$3.00
5	2.50
4	2.00
3	1.50
2	1.00
1	.50

Adding up these quantities, we get: 10 + 2 + 5 + 6 + 0 = 23 Therefore, the market quantity supplied of cola when the price is $1.50 is 23 million gallons.