Use the figure shown to answer the question.
Two supply curves

According to each supply curve, what quantities would be produced at $\$ 30$ ?

Choose 1 answers:
A
\begin{tabular}{|ll|}
\hline$Q_{S}$ on $S_{1}$ & $Q_{S}$ on $S_{2}$ \
\hline 30 & 10 \
\hline
\end{tabular}

B
\begin{tabular}{|ll|}
\hline$Q_{S}$ on $S_{1}$ & $Q_{S}$ on $S_{2}$ \
\hline 40 & 0 \
\hline
\end{tabular}

C
\begin{tabular}{|ll|}
\hline$Q_{S}$ on $S_{1}$ & $Q_{S}$ on $S_{2}$ \
\hline 0 & 0 \
\hline
\end{tabular}

Question

Use the figure shown to answer the question.
Two supply curves

According to each supply curve, what quantities would be produced at $\$ 30$ ?

Choose 1 answers:
A
\begin{tabular}{|ll|}
\hline$Q_{S}$ on $S_{1}$ & $Q_{S}$ on $S_{2}$ \
\hline 30 & 10 \
\hline
\end{tabular}

B
\begin{tabular}{|ll|}
\hline$Q_{S}$ on $S_{1}$ & $Q_{S}$ on $S_{2}$ \
\hline 40 & 0 \
\hline
\end{tabular}

C
\begin{tabular}{|ll|}
\hline$Q_{S}$ on $S_{1}$ & $Q_{S}$ on $S_{2}$ \
\hline 0 & 0 \
\hline
\end{tabular}

Accepted Answer

∻Solution∻ ‖ a ⋮ Identify the supply curves: The graph shows two supply curves, $S_1$ and $S_2$. ‖ ‖ b ⋮ Determine the quantities at $P = 30$: For $S_1$, find the quantity where the price is $30$. Similarly, find the quantity for $S_2$ at the same price. ‖ ‖ c ⋮ Read the graph: For $S_1$, at $P = 30$, the quantity $Q_{S1}$ is $40$. For $S_2$, at $P = 30$, the quantity $Q_{S2}$ is $10$. ‖ ‖ d ⋮ Choose the correct answer: Based on the graph, the correct answer is $Q_{S1} = 40$ and $Q_{S2} = 10$. ‖ ∻Answer∻ ⚹ B ⚹ ∻Key Concept∻ ⚹ Supply Curve Analysis ⚹ ∻Explanation∻ ⚹ The quantities produced at a specific price can be determined by reading the corresponding points on the supply curves. In this case, at $P = 30$, $Q_{S1}$ is $40$ and $Q_{S2}$ is $10$. ⚹◊What impact would an increase in the price of a substitute good have on the quantity demanded of the product represented in the supply graph?⍭ Generate me a similar question◊

Sia