The supply schedule given below illustrates two individual firms and the market supply for hot dogs. Both firms are profit maximizers. Price per Hot Dog $1.80 0.20 Quantity Supplied by Firm A 35 20 Quantity Supplied by Firm B 45 25 Total Market Supply ? ? Use the data in the table above to complete the following. 1.) Using the line drawing tool, draw the supply curve for Firm A. Label the curve 'SA' 2.) Using the line drawing tool, draw the supply curve for Firm B. Label the curve 'SB'- 3.) Using the line drawing tool, draw the market supply curve. Label the curve 'SMarket- Carefully follow the instructions above and only draw the required objects. 2.00 1.80 1.60- 1.40- 1.20- 1.00- 0.80 0.60 0.40- 0.20 0.004 0 Hot Dogs Price per unit ($) 10 20 30 40 50 60 70 Quantity per month 80 90 100
The supply schedule given below illustrates two individual firms and the market supply for hot dogs. Both firms are profit maximizers. Price per Hot Dog $1.80 0.20 Quantity Supplied by Firm A 35 20 Quantity Supplied by Firm B 45 25 Total Market Supply ? ? Use the data in the table above to complete the following. 1.) Using the line drawing tool, draw the supply curve for Firm A. Label the curve 'SA' 2.) Using the line drawing tool, draw the supply curve for Firm B. Label the curve 'SB'- 3.) Using the line drawing tool, draw the market supply curve. Label the curve 'SMarket- Carefully follow the instructions above and only draw the required objects. 2.00 1.80 1.60- 1.40- 1.20- 1.00- 0.80 0.60 0.40- 0.20 0.004 0 Hot Dogs Price per unit ($) 10 20 30 40 50 60 70 Quantity per month 80 90 100
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
![The supply schedule given below illustrates two individual firms and the
market supply for hot dogs. Both firms are profit maximizers.
Price
per
Hot Dog
$1.80
0.20
Quantity
Supplied by Firm
A
35
20
Quantity Supplied
by Firm B
45
25
Total Market
Supply
?
2
Use the data in the table above to complete the following.
1.) Using the line drawing tool, draw the supply curve for Firm A. Label the
curve 'SA'-
2.) Using the line drawing tool, draw the supply curve for Firm B. Label the
curve 'SB'-
3.) Using the line drawing tool, draw the market supply curve. Label the
curve 'SMarket'
Carefully follow the instructions above and only draw the required objects.
2.00
1.80
1.60-
1.40
1.20-
1.00
0.80
0.60-
0.40-
0.20-
0.00-
0
Hot Dogs
Price per unit ($)
10
20 30 40 50 60 70
Quantity per month
80
90 100](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F8c91ef5f-f0f7-4476-aa10-9c40af08ec95%2F3e5e5222-95cc-4430-b5ca-c4b4a0e74add%2Fj9djh5_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The supply schedule given below illustrates two individual firms and the
market supply for hot dogs. Both firms are profit maximizers.
Price
per
Hot Dog
$1.80
0.20
Quantity
Supplied by Firm
A
35
20
Quantity Supplied
by Firm B
45
25
Total Market
Supply
?
2
Use the data in the table above to complete the following.
1.) Using the line drawing tool, draw the supply curve for Firm A. Label the
curve 'SA'-
2.) Using the line drawing tool, draw the supply curve for Firm B. Label the
curve 'SB'-
3.) Using the line drawing tool, draw the market supply curve. Label the
curve 'SMarket'
Carefully follow the instructions above and only draw the required objects.
2.00
1.80
1.60-
1.40
1.20-
1.00
0.80
0.60-
0.40-
0.20-
0.00-
0
Hot Dogs
Price per unit ($)
10
20 30 40 50 60 70
Quantity per month
80
90 100
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