Figure 4.6

David's Supply Schedule Celeste's Supply Schedule
-Refer to Figure 4.6, which shows David's and Celeste's individual supply curves for flower arrangements per week. Assuming David and Celeste are the only producers in the market, what is the market quantity supplied at a price of $30?

Question

Figure 4.6
  
David's Supply Schedule Celeste's Supply Schedule
-Refer to Figure 4.6, which shows David's and Celeste's individual supply curves for flower arrangements per week. Assuming David and Celeste are the only producers in the market, what is the market quantity supplied at a price of $30?

Quizplus · Accepted Answer

At a price of $30, you sum up the individual quantities supplied by David and Celeste according to their supply curves. If David supplies 150 arrangements and Celeste supplies 100 arrangements at this price, the total market quantity supplied is 250.

Figure 4.6 David's Supply Schedule Celeste's Supply Schedule