Answered: Suppose that Andrew and Beth are the…

Brief Principles of Macroeconomics (MindTap Course List)

8th Edition

ISBN:9781337091985

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter4: The Market Forces Of Supply And Demand

Section: Chapter Questions

Problem 8QR

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6. Individual and market supply

Suppose that Andrew and Beth are the only suppliers of ice cream cones in a particular market. The following table shows their monthly supply schedules:

On the following graph, plot Andrew's supply of ice cream cones using the green points (triangle symbol). Next, plot Beth's supply of ice cream cones using the purple points (diamond symbol). Finally, plot the market supply of ice cream cones using the orange points (square symbol).

Note: Line segments will automatically connect the points. Remember to plot from left to right.

6. Individual and market supply
Suppose that Andrew and Beth are the only suppliers of ice cream cones in a particular market. The following table shows their monthly supply
schedules:
Price
Andrew's Quantity Supplied
Beth's Quantity Supplied
(Dollars per cone)
(Cones)
(Cones)
1
3
2
4
6
6.
8
4
7
10
5
8.
11

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