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

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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