Table 4-8
-Refer to Table 4-8. If these are the only three sellers in the market, then an increase in the market price from $6 to $12 will increase quantity supplied by
A)12 units.
B)24 units.
C)36 units.
D)48 units.

Question

Table 4-8 
-Refer to Table 4-8. If these are the only three sellers in the market, then an increase in the market price from $6 to $12 will increase quantity supplied by
A)12 units. 
B)24 units. 
C)36 units. 
D)48 units.

Quizplus · Accepted Answer

The increase in market price from $6 to $12 will increase the quantity supplied by 24 units, as each seller increases their supply by 8 units (3 sellers x 8 units each = 24 units).

Table 4-8 -Refer to Table 4-8. If These Are the Only Three