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  • The market supply of lettuce in a small town is shown in the table below. Market Supply of Lettuce $3 .00 2.50 2.00 1.50 1.00 0. 50 Price (dollars) Quantity of Lettuce Supplied (heads) Init iaI 350 310 270 230 190 150 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 50 more heads of lettuce at each price. Find the new quantities supplied at each price, and then complete the new supply schedule in the table. b. At a price of $1.00 per head of lettuce, the original quantity supplied was heads of lettuce. heads of lettuce and the new quantity supplied is

The market supply of lettuce in a small town is shown in the table below. Market Supply of Lettuce $3 .00 2.50 2.00 1.50 1.00 0. 50 Price (dollars) Quantity of Lettuce Supplied (heads) Init iaI 350 310 270 230 190 150 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 50 more heads of lettuce at each price. Find the new quantities supplied at each price, and then complete the new supply schedule in the table. b. At a price of $1.00 per head of lettuce, the original quantity supplied was heads of lettuce. heads of lettuce and the new quantity supplied is

Assuming the original quantities supplied at each price are as follows:

  • At $3.00: 350 heads
  • At $2.50: 310 heads
  • At $2.00: 270 heads
  • At $1.50: 230 heads
  • At $1.00: 190 heads
  • At $0.50: 150 heads

Answer for part a:

New quantities supplied at each price after the increase of 50 heads:

  • At $3.00: \( 350 + 50 = 400 \) heads
  • At $2.50: \( 310 + 50 = 360 \) heads
  • At $2.00: \( 270 + 50 = 320 \) heads
  • At $1.50: \( 230 + 50 = 280 \) heads
  • At $1.00: \( 190 + 50 = 240 \) heads
  • At $0.50: \( 150 + 50 = 200 \) heads

New Supply Schedule:

| Price (dollars) | Quantity of Lettuce Supplied (heads) |
|——————|—————————————|
| $3.00 | 400 |
| $2.50 | 360 |
| $2.00 | 320 |
| $1.50 | 280 |
| $1.00 | 240 |
| $0.50 | 200 |


Answer for part b:

At a price of $1.00 per head of lettuce, the original quantity supplied was 190 heads of lettuce, and the new quantity supplied is 240 heads of lettuce.

Explanation: The original quantity supplied at $1.00 was 190 heads, and after the increase of 50 heads due to decreased rental costs, the new quantity supplied is 240 heads.