Table 7-15
The following table represents the costs of five possible sellers.
-Refer to Table 7-15. Suppose each of the five sellers can supply at most one unit of the good. At which of the following prices would the market quantity supplied be exactly three units?
A)$20
B)$50
C)$90
D)$120

Question

Table 7-15
The following table represents the costs of five possible sellers. 
-Refer to Table 7-15. Suppose each of the five sellers can supply at most one unit of the good. At which of the following prices would the market quantity supplied be exactly three units?
A)$20 
B)$50 
C)$90 
D)$120

Quizplus · Accepted Answer

At a price of $90, sellers A, C, and E are willing to supply one unit each, for a total market quantity supplied of three units. At prices below $90, the quantity supplied would be less than three units, and at prices above $90, some sellers would be unwilling to supply any units, resulting in less than three units supplied.

Table 7-15 The Following Table Represents the Costs of Five Possible Sellers