Question

Use the supply schedule below to answer the questions that follow.Supply of Flower Bouquets
Price (dollars per bouquet) Quantity of Bouquets Supplied40 125
35 100
30 75
25 50
20 25
15 0A. What is the quantity of bouquets supplied if the market price is $30?
B. Suppose the market price falls from $30 per bouquet to $20 per bouquet. The quantity of bouquets supplied will (decrease or increase) by____bouquets.

Answer 1

a. quantity of bouquets supplied if the market price is $30 is 75

b. It should be decreased by 50.

• The calculation is as follows:

a. The corresponding matching for $30 price is 75 units.

b. The difference would say the decreasing quantity;

(75 – 25 =) 50 units.

I.e. decrease; 50

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