Suppose that Raphael and Susan are the only suppliers of pieces of cake in some hypothetical market. Their annual supply schedules are given by the following table: Price (Dollars per piece) 1 2 3 4 5 PRICE (Dollars per piece) On the following graph, plot Raphael's supply of pieces of cake using the green points (triangle symbol). Next, plot Susan's supply of pieces of cake using the purple points (diamond symbol). Finally, plot the market supply of pieces of cake using the orange points (square symbol). Note: Line segments will automatically connect the points. Remember to plot from left to right. (?) 6 5 1 0 0 20 Raphael's Quantity Supplied Susan's Quantity Supplied (Pieces) (Pieces) 0 20 20 35 30 45 35 50 40 55 40 60 80 QUANTITY (Pieces) 100 120 A Raphael's Supply 403 Susan's Supply -0- Market Supply

Suppose that Raphael and Susan are the only suppliers of pieces of cake in some hypothetical market. Their annual supply schedules are given by the following table: Price (Dollars per piece) 1 2 3 4 5 PRICE (Dollars per piece) On the following graph, plot Raphael's supply of pieces of cake using the green points (triangle symbol). Next, plot Susan's supply of pieces of cake using the purple points (diamond symbol). Finally, plot the market supply of pieces of cake using the orange points (square symbol). Note: Line segments will automatically connect the points. Remember to plot from left to right. (?) 6 5 1 0 0 20 Raphael's Quantity Supplied Susan's Quantity Supplied (Pieces) (Pieces) 0 20 20 35 30 45 35 50 40 55 40 60 80 QUANTITY (Pieces) 100 120 A Raphael's Supply 403 Susan's Supply -0- Market Supply

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter5: Markets In Motion And Price Controls

Section: Chapter Questions

Problem 10P

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