One Point on a Market Supply Curve Represents $4 and 100

question 120

Multiple Choice

One point on a market supply curve represents $4 and 100 units quantity supplied.If there are three suppliers,and at a price of $4 one of the suppliers supplies 23 units,then which of the following combinations of price and quantity supplied might hold for the other two suppliers?

• A) At $4,quantity supplied could be 40 units for one supplier and 27 for the other.
• B) At $4,quantity supplied could be 33 units for one supplier and 27 for the other.
• C) At $4,quantity supplied could be 40 units for one supplier and 37 for the other.
• D) At $4,quantity supplied could be 77 units for one supplier and 10 for the other.
• E) There is not enough information to answer this question.

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Definitions:

Business Computer

A computing device specifically designed, acquired, and used to meet the operational requirements of a business.

Double-Declining-Balance

A method of accelerated depreciation that doubles the straight-line depreciation rate, expensing more of the asset's cost closer to the beginning of its useful life.

Depreciation Expense

The allocated reduction in the value of a tangible asset over its useful life, reflecting wear and tear or obsolescence.

Straight-Line Depreciation

A strategy for apportioning an asset’s price equally over the duration of its usability.