Refer to Table 4-4. If these are the only four sellers in the market, then the market quantity supplied at a price of $4 is
1 answer:
All things being equal; demand decreases, as price increases.
The quantity supplied when price is $4 is 28
From table 4.4 (see attachment).
When price = $4, we have the following supplies:
- <em>Firm A = 6</em>
- <em>Firm B = 6</em>
- <em>Firm C = 8</em>
- <em>Firm D = 10</em>
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So, the total supply at $4 is:
Hence, the quantity supplied when price is $4 is 28
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