Question

Assume there are 100 suppliers of widgets in the widget market. Half of these suppliers supply 35 widgets to the market each, a quarter of these suppliers supply 40 widgets to the market each, and a quarter of these suppliers supply 50 widgets to the market each. What is the market supply for widgets?

Answer 1

Answer:

total market supply for widgets = 4000

Explanation:

given data

total suppliers of widgets = 100

half supply = 35 widgets each

quarter supply = 40 widgets each

quarter supply = 50 widgets each

to find out

What is the market supply for widgets

solution

we know here that market supply is equal to sum of supplies by individual suppliers

and we know half supply of 100 = 35 widgets each

so 50 suppliers supply = 35 × 50 = 1750

and

quarter supply of 100 = 40 widgets each i.e

so 25 suppliers supply = 25 × 40 = 1000

and

quarter supply of 100 = 50 widgets each

so 25 suppliers supply = 25 × 50 = 1250

so

total market supply =  1750 + 1000 + 1250

total market supply for widgets = 4000