Answered: On the following graph, plot Charles's…

MACROECONOMICS

14th Edition

ISBN:9781337794985

Author:Baumol

Publisher:Baumol

Chapter4: Supply And Demand: An Initial Look

Section: Chapter Questions

Problem 2TY

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Individual and market supply

Suppose that Charles and Dina are the only suppliers of ice cream cones in a particular market. The following table shows their monthly supply schedules:

Price	Charles's Quantity Supplied	Dina's Quantity Supplied
(Dollars per cone)	(Cones)	(Cones)
1	0	5
2	3	9
3	5	12
4	6	14
5	7	15

On the following graph, plot Charles's supply of ice cream cones using the green points (triangle symbol). Next, plot Dina's supply of ice cream cones using the purple points (diamond symbol). Finally, plot the market supply of ice cream cones using the orange points (square symbol).

Note: Line segments will automatically connect the points. Remember to plot from left to right.

Charles’s SupplyDina’s SupplyMarket Supply048121620246543210PRICE (Dollars per cone)QUANTITY (Cones)

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