The table below shows the hypothetical supply schedule of Dory's Leche flan production. Table 2. Supply Schedule of Dory's Leche flan Production PRICE (in peso) QUANTITY SUPPLIED (per tub) -2 80 2 160 6 240 10 320 14 400 18 1. Construct the supply curve using the data in Table 2. 2. Derive the supply function for Dory's Leche flan production. 3. Answer this question: Why is the supply curve upward sloping? Explain in 3-5 sentences the behavior of the producers (in terms of quantity supplied) when price changes.

ENGR.ECONOMIC ANALYSIS
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Chapter1: Making Economics Decisions
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The table below shows the hypothetical supply schedule of Dory's Leche flan production.
Table 2. Supply Schedule of Dory's Leche flan Production
PRICE (in peso)
QUANTITY SUPPLIED (per tub)
-2
80
160
6
240
10
320
14
400
18
1. Construct the supply curve using the data in Table 2.
2. Derive the supply function for Dory's Leche flan production.
3. Answer this question: Why is the supply curve upward sloping? Explain in 3-5 sentences the
behavior of the producers (in terms of quantity supplied) when price changes.
Transcribed Image Text:The table below shows the hypothetical supply schedule of Dory's Leche flan production. Table 2. Supply Schedule of Dory's Leche flan Production PRICE (in peso) QUANTITY SUPPLIED (per tub) -2 80 160 6 240 10 320 14 400 18 1. Construct the supply curve using the data in Table 2. 2. Derive the supply function for Dory's Leche flan production. 3. Answer this question: Why is the supply curve upward sloping? Explain in 3-5 sentences the behavior of the producers (in terms of quantity supplied) when price changes.
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