Imagine that the market supply of peaches comes from Georgia (GA)
and South Carolina (SC). The supply schedule below shows the
quantity of peaches supplied in each state at each price.
Individual and Market Supply of Peaches
Quantity of Peaches Supplied
Enter your answers as a whole number.
a. In the table, complete the column labeled “Market.”
b. How many pounds of peaches will be supplied to the market
when the price is $6 per pound?
a. To find the market quantities supplied at each price, you add the GA quantity and the
SC quantity at each price. This amount is the market quantity, which is the value
entered into the "Market" column of the table. For example, at a price of $10, the GA
quantity is 20,000 and the SC quantity is 18,000. Therefore, the market quantity at $10
is 20,000 + 18,000 = 38,000.
In understanding and analyzing "market supply," we focus on how much all firms
are willing and able to supply at different prices.