Question: 1 Supply graph for apples. The x-axis is labeled quantity (bushels) and runs from 0 to 250,000 in increments of 50,000. The y-axis is labeled
1 Supply graph for apples. The x-axis is labeled quantity (bushels) and runs from 0 to 250,000 in increments of 50,000. The y-axis is labeled price and rises from $0 to $18 in increments of $2. The supply curve has a stair-stepped upward slope from left to right. The data for the supply curve is approximately as follows. Quantity Price 0 $9 50,000 $9 rising to $12 100,000 $12 150,000 $12 rising to $14 200,000 $14 220,000 $14 (end--curve goes vertical) If consumers demand 250,000 bushels of apples, which of the following options is a possible market outcome? 180,000 bushels will be sold at a price of $12. 220,000 bushels will be sold at a price of $14. 250,000 bushels will be sold at a price of $14. 250,000 bushels will be sold at a price of $16....select correct ans from given option only
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