Consider the Following Supply Table, Which Represents the Supply of Comic

question 15

Essay

Consider the following supply table, which represents the supply of comic books by Bill, Judy, and Sally. $$\begin{array} { | l | r | r | r | r | r | } \hline & \begin{array} { c } \text { Price } \\\text { (in \$) }\end{array} & \begin{array} { c } \text { Bill's } \\\text { Supply }\end{array} & \begin{array} { c } \text { Judy's } \\\text { Supply }\end{array} & \begin{array} { c } \text { Sally's } \\\text { Supply }\end{array} & \begin{array} { c } \text { Market } \\\text { Supply }\end{array} \\\hline \text { A } & \$ 2 & 0 & 9 & 1 & \\\hline \text { B } & 4 & 0 & 2 & 2 & \\\hline \text { C } & 6 & 0 & 4 & 3 & \\\hline \text { D } & 8 & 0 & 5 & 4 & \\\hline \text { E } & 10 & 0 & 6 & 5 & \\\hline \text { F } & 12 & 0 & 7 & 6 & \\\hline \text { G } & 14 & 2 & 8 & 6 & \\\hline \text { H } & 16 & 4 & 10 & 6 & \\\hline\end{array}$$ (a) Fill in the "market supply" column of the above table.
(b) Use the grid below to draw the supply curves for comic books of Bill, Judy, and Sally.Then draw in the market supply curve. (c) Compare the supply curve you have drawn for Sally and Judy.Which of these two is more influenced by increases in the price of comic books? Explain.

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Definitions:

Leather Jackets

Garments made from the skin of animals, primarily cows, processed and designed for wear primarily as outerwear.

Utility Function

A mathematical representation of a consumer's preference ranking for bundles of goods or services, used to predict economic behavior.

Curds

The solid parts of milk that coagulate when milk is soured or treated with enzymes, used in cheese-making.

Whey

A liquid by-product of cheese production, rich in proteins and lactose, commonly used as a dietary supplement and in various food products.