imagine that the market supply of peaches comes from Georgia (GA) and South Carolina (SC). The table below shows the quantity of peaches supplied in each state at each price. Individual and Market Supply of Peaches Quantity of Peaches Supplied (pounds) Price (dollars per pound) GA SC Market $10 30,000 28,000 8 26,000 25,000 6 22,000 22,000 4 18,000 19,000 2 14,000 16,000 a. In the table, complete the column labeled “Market.” b. How many pounds of peaches will be supplied to the market when the price is $4 per pound?
imagine that the market supply of peaches comes from Georgia (GA) and South Carolina (SC). The table below shows the quantity of peaches supplied in each state at each price. Individual and Market Supply of Peaches Quantity of Peaches Supplied (pounds) Price (dollars per pound) GA SC Market $10 30,000 28,000 8 26,000 25,000 6 22,000 22,000 4 18,000 19,000 2 14,000 16,000 a. In the table, complete the column labeled “Market.” b. How many pounds of peaches will be supplied to the market when the price is $4 per pound?
Principles of Microeconomics
7th Edition
ISBN:9781305156050
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter6: Supply, Demand And Government Policies
Section: Chapter Questions
Problem 3PA
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imagine that the market supply of peaches comes from Georgia (GA) and South Carolina (SC). The table below shows the quantity of peaches supplied in each state at each price.
Individual and Market Supply of Peaches
Quantity of Peaches Supplied (pounds) | |||
Price (dollars per pound) | GA | SC | Market |
$10 | 30,000 | 28,000 | |
8 | 26,000 | 25,000 | |
6 | 22,000 | 22,000 | |
4 | 18,000 | 19,000 | |
2 | 14,000 | 16,000 |
a. In the table, complete the column labeled “Market.”
b. How many pounds of peaches will be supplied to the market when the price is $4 per pound?
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