Table 4-2

-Refer to Table 4-2.If these are the only three sellers in the market,then an increase in the market price from $6 to $12 will increase quantity supplied by

Question

Table 4-2
 
-Refer to Table 4-2.If these are the only three sellers in the market,then an increase in the market price from $6 to $12 will increase quantity supplied by

Quizplus · Accepted Answer

An increase in market price from $6 to $12 will increase the quantity supplied by 8 units for each seller (from 4 to 12 units per seller). With three sellers, the total increase is 8 units x 3 sellers = 24 units.

Table 4-2 -Refer to Table 4-2.If These Are the Only Three Sellers