Use the supply schedule below to answer the questions that follow. Supply of Flower Bouquets Price (dollars per Quantity of Bouquets bouquet) Supplied $40 90 35 70 30 50 25 30 20 15 10 0 Instructions: Enter your answers as a whole number. a. What is the quantity of bouquets supplied if the market price is $35? bouquets of flowers b. Suppose the market price rises from $35 per bouquet to $40 per bouquet. The quantity of bouquets supplied will (Click to select) by bouquets. The table below presents the market supply schedule for laptop computers in the "Initial Market Quantity of Computers Supplied" column. Suppose a new firm, NF Computers, enters the market with the supply schedule shown in the "Quantity of Computers Supplied by NF Computers" column. Instructions: Enter your answers as a whole number. a. Fill in the new market supply schedule in the "New Market Quantity of Computers Supplied" column. Market Supply of Computers Initial Market Quantity of Computers Quantity of Computers Supplied by NF New Market Quantity of Computers Supplied Price (dollars) Supplied Computers $450 1,500 76 425 1,400 70 400 1,300 64 375 1,200 55 350 1,100 46 325 1,000 37 300 900 28 275 800 19 b. At a price of $375 per laptop computer, the entry of NF Computers will increase the quantity of computers supplied by computers, resulting in a total market quantity of computers.
Use the supply schedule below to answer the questions that follow. Supply of Flower Bouquets Price (dollars per Quantity of Bouquets bouquet) Supplied $40 90 35 70 30 50 25 30 20 15 10 0 Instructions: Enter your answers as a whole number. a. What is the quantity of bouquets supplied if the market price is $35? bouquets of flowers b. Suppose the market price rises from $35 per bouquet to $40 per bouquet. The quantity of bouquets supplied will (Click to select) by bouquets. The table below presents the market supply schedule for laptop computers in the "Initial Market Quantity of Computers Supplied" column. Suppose a new firm, NF Computers, enters the market with the supply schedule shown in the "Quantity of Computers Supplied by NF Computers" column. Instructions: Enter your answers as a whole number. a. Fill in the new market supply schedule in the "New Market Quantity of Computers Supplied" column. Market Supply of Computers Initial Market Quantity of Computers Quantity of Computers Supplied by NF New Market Quantity of Computers Supplied Price (dollars) Supplied Computers $450 1,500 76 425 1,400 70 400 1,300 64 375 1,200 55 350 1,100 46 325 1,000 37 300 900 28 275 800 19 b. At a price of $375 per laptop computer, the entry of NF Computers will increase the quantity of computers supplied by computers, resulting in a total market quantity of computers.
Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter5: Supply, Demand, And Price: Applications
Section: Chapter Questions
Problem 4WNG
Related questions
Question
Transcribed Image Text:Use the supply schedule below to answer the questions that follow.
Supply of Flower Bouquets
Price
(dollars per
Quantity of
Bouquets
bouquet)
Supplied
$40
90
35
70
30
50
25
30
20
15
10
0
Instructions: Enter your answers as a whole number.
a. What is the quantity of bouquets supplied if the market price is $35?
bouquets of flowers
b. Suppose the market price rises from $35 per bouquet to $40 per bouquet.
The quantity of bouquets supplied will (Click to select) by
bouquets.
Transcribed Image Text:The table below presents the market supply schedule for laptop computers in the "Initial Market Quantity of Computers Supplied"
column. Suppose a new firm, NF Computers, enters the market with the supply schedule shown in the "Quantity of Computers
Supplied by NF Computers" column.
Instructions: Enter your answers as a whole number.
a. Fill in the new market supply schedule in the "New Market Quantity of Computers Supplied" column.
Market Supply of Computers
Initial Market
Quantity of
Computers
Quantity of
Computers
Supplied by NF
New Market
Quantity of
Computers
Supplied
Price
(dollars)
Supplied
Computers
$450
1,500
76
425
1,400
70
400
1,300
64
375
1,200
55
350
1,100
46
325
1,000
37
300
900
28
275
800
19
b. At a price of $375 per laptop computer, the entry of NF Computers will increase the quantity of computers supplied by
computers, resulting in a total market quantity of
computers.
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