Concept: Supply

   

This table provides information about the supply of personal computers (PCs) by a particular manufacturer:

Price
($)

Quantity Supplied
(millions)

1,500

15

1,000

10

500

5

0

0

Use this information to draw the manufacturer's supply curve. Then, label the point at which the quantity supplied is 12 million computers. What is the corresponding price?

Next, show what would happen if there was a technological improvement that made it cheaper to produce each PC.