Question
Imagine that the market supply of peaches comes from Georgia (GA) and South Carolina (SC). The supply schedule below shows the quantity of peaches
Imagine that the market supply of peaches comes from Georgia (GA) and South Carolina (SC). The supply schedule below shows the quantity of peaches supplied in each state at each price. Individual and Market Supply of Peaches Price (dollars per pound) $10 8 6 4 2 Quantity of Peaches Supplied (pounds) GA 20,000 16,000 12,000 8,000 4,000 SC 18,000 15,000 12,000 9,000 6,000 Market Instructions: Enter your answers as a whole number. a. In the table, complete the column labeled "Market." b. How many pounds of peaches will be supplied to the market when the price is $6 per pound? pounds
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The market supply can be calculated as GA SC Substituting the values At 10 20000 18000 3800...Get Instant Access to Expert-Tailored Solutions
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Microeconomics
Authors: Austan Goolsbee, Steven Levitt, Chad Syverson
2nd edition
1464187029, 978-1464189104, 1464189102, 978-0716759751, 716759756, 978-1464187025
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