An article is bought and sold with a profit of 25% of selling price.find the profit percent
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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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