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The market supply of lettuce in a small town is shown in the table below. Supply of Lettuce Quantity of Lettuce Supplied (heads) Price (dollars per head) Initial New $4.00 400 3.50 300 3.00 200 2.50 100 Instructions: Enter your answers as a whole number. a. Suppose an increase in the cost of water decreases production of lettuce heads by 30% at every price. Complete the new supply schedule in the table above. b. At a price of $3.50 per head of lettuce, the original quantity supplied was heads of lettuce and the new quantity supplied is heads of lettuce.

The market supply of lettuce in a small town is shown in the table below. Supply of Lettuce Quantity of Lettuce Supplied (heads) Price (dollars per head) Initial New $4.00 400 3.50 300 3.00 200 2.50 100 Instructions: Enter your answers as a whole number. a. Suppose an increase in the cost of water decreases production of lettuce heads by 30% at every price. Complete the new supply schedule in the table above. b. At a price of $3.50 per head of lettuce, the original quantity supplied was heads of lettuce and the new quantity supplied is heads of lettuce.

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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The market supply of lettuce in a small town is shown in the table below. Supply of Lettuce Quantity of Lettuce Supplied (heads) Price (dollars per head) Initial New $4.00 400 3.50 300 3.00 200 2.50 100 Instructions: Enter your answers as a whole number. a. Suppose an increase in the cost of water decreases production of lettuce heads by 30% at every price. Complete the new supply schedule in the table above. b. At a price of $3.50 per head of lettuce, the original quantity supplied was heads of lettuce and the new quantity supplied is heads of lettuce.
Transcribed Image Text:The market supply of lettuce in a small town is shown in the table below. Supply of Lettuce Quantity of Lettuce Supplied (heads) Price (dollars per head) Initial New $4.00 400 3.50 300 3.00 200 2.50 100 Instructions: Enter your answers as a whole number. a. Suppose an increase in the cost of water decreases production of lettuce heads by 30% at every price. Complete the new supply schedule in the table above. b. At a price of $3.50 per head of lettuce, the original quantity supplied was heads of lettuce and the new quantity supplied is heads of lettuce.
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