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 $20?

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 $20?

Quizplus · Accepted Answer

At a price of $20, David and Celeste would each supply 50 flower arrangements per week (assuming their individual supply curves indicate this quantity at that price). Therefore, the total market quantity supplied, combining both of their outputs, would be 100 arrangements per week.

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