Question

There were 30 cartons of eggs at the grocery store. Each carton costs $3. By the end of the day, the grocery store sold 15 of them. What was the quantity of egg cartons supplied at $3

Answer 1

The original supply of egg cartons was 30. After selling 15 of them, the remaining quantity was 15 cartons. The details about the price of fish and equilibrium quantity are related to market principles but were not directly applicable to the egg carton scenario.

Step-by-step explanation:

The quantity of egg cartons supplied at a price of $3 each was 30 cartons. After selling 15 of them, however, this quantity was reduced. To calculate the remaining quantity, we can subtract the number of cartons sold from the original quantity: 30 cartons - 15 cartons = 15 cartons. Therefore, there were 15 cartons left at the end of the day still available for purchase at the $3 price point.

The provided information about the price is $3.25 per pound and the original equilibrium quantity of 250,000 fish is related to a different context, namely the market for commercial fish buying. In this example, the given price refers to what commercial buyers would pay at the fishing docks, which typically differs from consumer pricing at the grocery store. This example illustrates how equilibrium pricing works in a market, similar to how the egg cartons were priced based on supply and consumer demand.

Answer 2

15 cartons

Step-by-step explanation:

The quantity supplied at a price of $3 was 15 cartons. This is technically the total number of cartons that the store gave to the customers, therefore, supplying them with the carton. In this scenario, this number of cartons would also be the quantity demanded since only 15 customers actually wanted to buy the cartons of eggs and there was enough for all of the customers. This would not be the case if the quantity demanded was more than 15 since there were only 30 cartons available to be supplied.