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The market supply of lettuce in a small town is shown in the table below.

Market Supply of Lettuce

[tex]\[
\begin{tabular}{|c|c|c|}
\hline
\text{Price (dollars)} & \text{Initial Quantity Supplied (heads)} & \text{New Quantity Supplied (heads)} \\
\hline
\$3.00 & 180 & \\
\hline
\$2.50 & 140 & \\
\hline
\$2.00 & 100 & \\
\hline
\$1.50 & 60 & \\
\hline
\$1.00 & 20 & \\
\hline
\$0.50 & 0 & \\
\hline
\end{tabular}
\][/tex]

Instructions: Enter your answers as a whole number.

a. Suppose there is a decrease in the cost of renting land that allows lettuce growers to produce more lettuce at each price. Find the new quantities supplied at each price, and then complete the new supply schedule.

b. At a price of \$1.50 per head of lettuce, the original quantity supplied was [tex]\(\square\)[/tex] heads of lettuce. The new quantity supplied is [tex]\(\square\)[/tex] heads of lettuce.


Sagot :

Let's address each part of the problem in detail.

Part a: New Supply Quantities

Given the information, we need to find the new quantities supplied at each price point, assuming a decrease in the production cost for lettuce growers. This decrease allows the quantity supplied to double at each price point. Here is the breakdown:

Original Supply Quantities
- At \[tex]$3.00: 180 heads of lettuce - At \$[/tex]2.50: 140 heads of lettuce
- At \[tex]$2.00: 100 heads of lettuce - At \$[/tex]1.50: 60 heads of lettuce
- At \[tex]$1.00: 20 heads of lettuce - At \$[/tex]0.50: 0 heads of lettuce

New Supply Quantities (Doubling of original quantities)
- At \[tex]$3.00: 180 * 2 = 360 heads of lettuce - At \$[/tex]2.50: 140 2 = 280 heads of lettuce
- At \[tex]$2.00: 100
2 = 200 heads of lettuce - At \$[/tex]1.50: 60 2 = 120 heads of lettuce
- At \[tex]$1.00: 20
2 = 40 heads of lettuce - At \$[/tex]0.50: 0 * 2 = 0 heads of lettuce

Now, let's complete the new supply schedule:

\begin{tabular}{|c|c|c|}
\hline
& \multicolumn{2}{|c|}{\begin{tabular}{c}
Quantity of Lettuce \\
Supplied \\
(heads)
\end{tabular}} \\
\hline
\begin{tabular}{c}
Price \\
(dollars)
\end{tabular} & Initial & New \\
\hline
\[tex]$ 3.00 & 180 & 360 \\ \hline \$[/tex] 2.50 & 140 & 280 \\
\hline
\[tex]$ 2.00 & 100 & 200 \\ \hline \$[/tex] 1.50 & 60 & 120 \\
\hline
\[tex]$ 1.00 & 20 & 40 \\ \hline \$[/tex] 0.50 & 0 & 0 \\
\hline
\end{tabular}

Part b: Quantity Supplied at \[tex]$1.50 The problem also asks for the original quantity supplied when the price is \$[/tex]1.50 per head of lettuce.

From the original supply quantities:
- At \[tex]$1.50: 60 heads of lettuce Thus, at a price of \$[/tex]1.50 per head of lettuce, the original quantity supplied was 60 heads of lettuce.

Let's visualize the answers in the table and blanks provided:

1. New Quantities Supplied (part a):

\begin{tabular}{|c|c|c|}
\hline
& \multicolumn{2}{|c|}{\begin{tabular}{c}
Quantity of Lettuce \\
Supplied \\
(heads)
\end{tabular}} \\
\hline
\begin{tabular}{c}
Price \\
(dollars)
\end{tabular} & Initial & New \\
\hline
\[tex]$ 3.00 & 180 & 360 \\ \hline \$[/tex] 2.50 & 140 & 280 \\
\hline
\[tex]$ 2.00 & 100 & 200 \\ \hline \$[/tex] 1.50 & 60 & 120 \\
\hline
\[tex]$ 1.00 & 20 & 40 \\ \hline \$[/tex] 0.50 & 0 & 0 \\
\hline
\end{tabular}

2. Original Quantity Supplied at \[tex]$1.50 (part b): At a price of \$[/tex]1.50 per head of lettuce, the original quantity supplied was 60 heads of lettuce.

By considering the above detailed explanation, you now have a complete understanding and solution to the problem given.
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