There are two restaurants on Bloor selling Ramen noodle bowls - Ramentastic and Best Ramen. They are part of a larger perfectly competitive market for Ramen noodle bowls, but let's just focus on these two restaurants. Ramentastic's supply curve is P=Q. Best Ramen's supply curve is P=1+5Q. If the market price of Ramen is $24, what is the total quantity supplied from both these restaurants? Enter a number only. Remember, fractions of goods are possible.
There are two restaurants on Bloor selling Ramen noodle bowls - Ramentastic and Best Ramen. They are part of a larger perfectly competitive market for Ramen noodle bowls, but let's just focus on these two restaurants. Ramentastic's supply curve is P=Q. Best Ramen's supply curve is P=1+5Q. If the market price of Ramen is $24, what is the total quantity supplied from both these restaurants? Enter a number only. Remember, fractions of goods are possible.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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There are two restaurants on Bloor selling Ramen noodle bowls - Ramentastic and Best Ramen. They are part of a larger
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