Question

SUPPLY Use the supply schedule below that shows how much software Software House will produce at...

SUPPLY

Use the supply schedule below that shows how much software Software House will produce at different prices to answer the following questions

Price of Software

Quantity Supplied

$50

100

$40

90

$30

70

$20

30

$10

10

$5

1

  1. How many video games would the company be willing to sell at $20.00 and at $40.00? How many more video games are they willing to sell at $40.00 compared to $20.00? Graph Software House’s supply curve for software.

Homework Answers

Answer #1

A supply schedule shows various quantities of a commodity a producer is willing to produce and sell at various possible prices during a particular period of time.

From the given supply schedule, we can see that at the price of $20.00 , the company is willing to sell 30 units of video games. At the price of $40.00, the company is willing to sell 90 units of video games.

We can see that more quantity of video games is being supplied at a price of $40.00 than at the price of $20.00.

At a price of $40.00 , the company is willing to sell 60 more units of video games as compared to$20.00. It is calculated as -

Quantity supplied at $40 - Quantity supplied at $20

= 90 - 30

=60

Hence, the company is willing to sell 60 more video games at a price of $40.00 compared to $20.00.

Supply curve of software house-

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