Table 4-4

-Refer to Table 4-4.If these are the only four sellers in the market,then when the price increases from $6 to $8,the market quantity supplied

Question

Table 4-4
 
-Refer to Table 4-4.If these are the only four sellers in the market,then when the price increases from $6 to $8,the market quantity supplied

Quizplus · Accepted Answer

To calculate the change in market quantity supplied, we need to sum up the quantity supplied by each seller at both prices.

At $6, the total quantity supplied is 20 units (8+4+4+4).

At $8, the total quantity supplied is 22 units (9+5+4+4).

Therefore, the market quantity supplied increases by 2 units.

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