The following table contains a supply schedule for a good. $$\begin{array} { | c | c | }
\hline \text { Price } & \text { Quantit } \text { Supplied } \
\hline \$ 10 & 100 \
\hline \$ 20 & Q 1 \
\hline
\end{array}$$ If the law of supply applies to this good, then Q1 could be

Question

The following table contains a supply schedule for a good. $$\begin{array} { | c | c | } 
\hline \text { Price } & \text { Quantit } \text { Supplied } \
\hline \$ 10 & 100 \
\hline \$ 20 & Q 1 \
\hline
\end{array}$$ If the law of supply applies to this good, then Q1 could be

Quizplus · Accepted Answer

According to the law of supply, as the price of a good increases, the quantity supplied of that good will also increase. In the given supply schedule, the quantity supplied increases from 100 to some larger number at a higher price of $20. Therefore, Q1 must be larger than 100. The only answer option greater than 100 is D) 150, so that is the best choice.

The Following Table Contains a Supply Schedule for a Good