Table 3-2 shows a market of mid-sized autos. If these three firms represented the entire market, how many mid-sized autos would be supplied at a price of $30,000?Table 3-2

Question

Table 3-2 shows a market of mid-sized autos. If these three firms represented the entire market, how many mid-sized autos would be supplied at a price of $30,000?Table 3-2​

Quizplus · Accepted Answer

At a price of $30,000, Firm A would supply 20,000 mid-sized autos, Firm B would supply 24,000 mid-sized autos, and Firm C would supply 10,000 mid-sized autos. Adding up these quantities, we get a total supply of 54,000 mid-sized autos.

Table 3-2 Shows a Market of Mid-Sized Autos