Figure 4-13
-Refer to Figure 4-13.If Producer A and Producer B are the only producers in the market,then the market quantity supplied when the price is $8 is

Question

Figure 4-13  
-Refer to Figure 4-13.If Producer A and Producer B are the only producers in the market,then the market quantity supplied when the price is $8 is

Quizplus · Accepted Answer

At a price of $8, Producer A is willing to produce and supply 12 units and Producer B is willing to produce and supply 12 units. Therefore, the total market quantity supplied is 12+12=24 units.