Imagine that the market supply of peaches comes from Georgia (GA) and South Caro
ID: 1137141 • Letter: I
Question
Imagine that the market supply of peaches comes from Georgia (GA) and South Carolina (SC). The table below sh quantity of peaches supplied in each state at each price. Individual and Market Supply of Peaches Quantity of Peaches Supplied (pounds) Price (dollars er pound) $10 GA 25,000 21,000 17,000 13,000 9,000 SC 21,000 18,000 5,000 12,000 9,000 Market nstructions: 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 $8 per pound? es poundsExplanation / Answer
(a) The market supply would simply be the addition of GA and SC supply per price, resembling the total amount of peaches available to be supplied per price. The table would be as below.
(b) The amount of peaches market would supply for $8 price will be 39000 pounds. At $8, GA would supply 21000 pounds while SC would supply 18000 pounds, and hence, the total market supply at that $8 would be their sum 39000 pounds.
Price ($) Quantity Supplied by GA (pounds) Quantity Supplied by SC (pounds) Total Qauntity Supplied in the Market (pounds) 10 25000 21000 46000 8 21000 18000 39000 6 17000 15000 32000 4 13000 12000 25000 2 9000 9000 18000