The following table shows the supply schedule of bread for three sellers in the economy. Assume that these three sellers constitute the entire market.

-Refer to the table above.If the market supply of bread at a price of $3 per loaf is 45 loaves,Seller 3's supply is ________ loaves.

Question

The following table shows the supply schedule of bread for three sellers in the economy. Assume that these three sellers constitute the entire market.
 
-Refer to the table above.If the market supply of bread at a price of $3 per loaf is 45 loaves,Seller 3's supply is ________ loaves.

Quizplus · Accepted Answer

To find the market supply of bread at a price of $3 per loaf, we need to add up the quantities supplied by all three sellers at that price.
$3 is in between the price range of Seller 2 and Seller 3. 
Seller 2 is willing to supply 12 loaves of bread at $3 per loaf.
Seller 3 is willing to supply 18 loaves of bread at $3 per loaf.
Therefore, the market supply of bread at a price of $3 per loaf is 12+18+15=45 loaves.
Hence, Seller 3's supply is 18 loaves.

The Following Table Shows the Supply Schedule of Bread for Three