TECO1113D Microeconomics Tutorial 4 Question 1 The table shows the supply schedules for coffee for Liam and Chris. Price Quantity supplied Market (RM/cup) for coffee (cups) supply Liam Chris (cups) 18 17 15 20 2O 2O 22 26 22 a) Calculate the market supply for coffee and complete the table above. b) Draw the market supply curve. 0) Suppose that the cost of producing coffee has increased, affecting the whole industry. Illustrate the impact on supply by using supply curve. Question 2 Given that the supply function for good A as follows: Q = 155 + 10P a) Complete the quantity supplied in supply schedule below. Price (RM) Quantity supplied (units) b) Suppose that the number of firms have increased and cause the quantity supplied to change by 15 units at each price level. What is the new supply equaon? Question 3 Given that the supply schedule for good A as follows: Quantity supplied (units) 25 21 17 13 a) Derive the supply function based on the above schedule. Q3 2 C + dP b) Following a good deal made with suppliers, the cost of production has increased; resulting in 5 units change in the quantity supplied at each price level. What is the new quantity supplied