Need help with this. I tried to do the graph and I think I got it. Please double check it and answer the questions down below, remember only 1 possible answer in the empty spots:Now, suppose that Valerie moves away, leaving Shen as the only producer in the market. As a result, there will be a_____________(Choose one from these: movement along or shift of) the market supply curve because there will be a change in quantity supplied____________(Choose one from these: due to change in price or at every price) . 6. Individual and market supplySuppose that Shen and Valerie are the only suppliers of collectible action figures in a particular market. The following table shows their annual supplyschedules:Price(Dollars per action figure)N+ 10 00910Shen's Quantity Supplied(Action figures)4810Valerie's Quantity Supplied(Action figures)816222628 On the following graph, plot Shen's supply of collectible action figures using the green points (triangle symbol). Next, plot Valerie's supply ofcollectible action figures using the purple points (diamond symbol). Finally, plot the market supply of collectible action figures using the orangepoints (square symbol).PRICE (Dollars per action figure)00A❤。O☐■162432QUANTITY (Action figures)☐4048Shen's SupplyValerie's SupplyMarket Supply?Now, suppose that Valerie moves away, leaving Shen as the only producer in the market. As a result, there will be amarket supply curve because there will be a change in quantity suppliedthe

When we are deriving the market supply when the individual supplies are given. And for that we do…

Answered: Need help with this. I tried to do the…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Need help with this. I tried to do the graph and I think I got it. Please double check it and answer the questions down below, remember only 1 possible answer in the empty spots:

Now, suppose that Valerie moves away, leaving Shen as the only producer in the market. As a result, there will be a_____________(Choose one from these: movement along or shift of) the market supply curve because there will be a change in quantity supplied____________(Choose one from these: due to change in price or at every price) .

6. Individual and market supply
Suppose that Shen and Valerie are the only suppliers of collectible action figures in a particular market. The following table shows their annual supply
schedules:
Price
(Dollars per action figure)
N+ 10 009
10
Shen's Quantity Supplied
(Action figures)
4
8
10
Valerie's Quantity Supplied
(Action figures)
8
16
22
26
28

On the following graph, plot Shen's supply of collectible action figures using the green points (triangle symbol). Next, plot Valerie's supply of
collectible action figures using the purple points (diamond symbol). Finally, plot the market supply of collectible action figures using the orange
points (square symbol).
PRICE (Dollars per action figure)
0
0
A
❤
。
O
☐
■
16
24
32
QUANTITY (Action figures)
☐
40
48
Shen's Supply
Valerie's Supply
Market Supply
?
Now, suppose that Valerie moves away, leaving Shen as the only producer in the market. As a result, there will be a
market supply curve because there will be a change in quantity supplied
the

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