Table 7-11
The following table represents the costs of five possible sellers.

-Refer to Table 7-11. Suppose each of the five sellers can supply at most one unit of the good. The market quantity supplied is exactly 4 if the price is
A) $860.
B) $1,050.
C) $1,650.
D) $1,400.

Question

Table 7-11
The following table represents the costs of five possible sellers.
 
-Refer to Table 7-11. Suppose each of the five sellers can supply at most one unit of the good. The market quantity supplied is exactly 4 if the price is
A) $860. 
B) $1,050. 
C) $1,650. 
D) $1,400.

Quizplus · Accepted Answer

At a price of $1,400, four sellers are willing to supply the good, making the market quantity supplied exactly 4.

Table 7-11 The Following Table Represents the Costs of Five Possible Sellers