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The market supply of lettuce in a small town is shown in the table below. Supply of LettuceInstructions: Enter your answers as a whole number.
The market supply of lettuce in a small town is shown in the table below.
Supply of LettuceInstructions:
Enter your answers as a whole number.
a. Suppose an increase in the cost of water decreases production of lettuce heads by 25% at every price. Complete the new supply schedule in the table above.
b. At a price of $5.50 per head of lettuce, the original quantity supplied was (blank) heads of lettuce and the new quantity supplied is (blank) heads of lettuce.
Price (dollars per head) | Initial | New |
$6.00 | 800 | |
5.50 | 700 | |
5.00 | 600 | |
4.50 | 500 |
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