Question

The table below shows the weekly supply for hamburgers in a market where there are just three sellers.

Price Seller 1 Qs 1 Seller 2 Qs 2 Seller 3 Qs 3
$5 8 5 4
4 6 4 3
3 4 3 2
2 2 2 1

1 If there were 300 sellers in the market, each with a supply schedule identical to seller 1 in the table above, then the weekly quantity of hamburgers supplied in the market at a price of $2 would be

1. 1,500.

2. 900.

3. 200.

4. 600

Answer 1

In a market with 300 sellers, each with the same supply schedule as Seller 1, the weekly quantity of hamburgers supplied at a price of $2 would be 2400.

Step-by-step explanation:

To find the weekly quantity of hamburgers supplied in the market at a price of $2, we need to determine the total quantity supplied by all 300 sellers. Since each seller has the same supply schedule as Seller 1, we can multiply the quantity supplied by Seller 1 in the table (8 hamburgers) by 300 to get the total quantity supplied by all sellers:

Total quantity supplied = 8 hamburgers/seller * 300 sellers = 2400 hamburgers

Therefore, the weekly quantity of hamburgers supplied in the market at a price of $2 would be 2400.