For a given seller, the accompanying figure shows the relationship between the number of units produced and the opportunity cost of producing an additional unit of output. If the market consists of 50 identical sellers, each with the same opportunity cost as the seller depicted in the figure, then how many units would be supplied in the market at a price of $14 per unit?
A)350
B)1,750
C)17,500
D)175,000

Question

For a given seller, the accompanying figure shows the relationship between the number of units produced and the opportunity cost of producing an additional unit of output. If the market consists of 50 identical sellers, each with the same opportunity cost as the seller depicted in the figure, then how many units would be supplied in the market at a price of $14 per unit? 
A)350 
B)1,750 
C)17,500 
D)175,000

Quizplus · Accepted Answer

At a price of $14, each firm would produce 350 units. Thus, a total of 17,500 (= 350 × 50)units would be produced.

For a Given Seller, the Accompanying Figure Shows the Relationship