(a) Fill in the market supply and plot the individual supply curve on the graph paper. (b) Derive the market supply curve. (c) Assume that the government imposes tax for eggs and as a result the market supply falls by 20 dozens at each price level. Indicate the changes in the graph.

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Chapter1: Making Economics Decisions
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5 The following is the individual supply schedule
aeach price level for eggs.
Price of
Eggs (RM
Dozen)
3.20
3.00
2.80
2.60
2.40
2.20
Quantity
Supplied by
Bob Mini
Market
(Dozen)
80
70
60
50
40
30
Quantity
Supplied by
John Mini
Market
(Dozen)
150
140
130
120
110
100
Market
Supply
(Dozen)
(a) Fill in the market supply and plot the
individual supply curve on the graph
paper.
(b) Derive the market supply curve.
(c) Assume that the government imposes tax for
eggs and as a result the market supply fails
by 20 dozens at each price level. Indicate the
changes in the graph.
Transcribed Image Text:5 The following is the individual supply schedule aeach price level for eggs. Price of Eggs (RM Dozen) 3.20 3.00 2.80 2.60 2.40 2.20 Quantity Supplied by Bob Mini Market (Dozen) 80 70 60 50 40 30 Quantity Supplied by John Mini Market (Dozen) 150 140 130 120 110 100 Market Supply (Dozen) (a) Fill in the market supply and plot the individual supply curve on the graph paper. (b) Derive the market supply curve. (c) Assume that the government imposes tax for eggs and as a result the market supply fails by 20 dozens at each price level. Indicate the changes in the graph.
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