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Question - The table below presents the market supply schedule for laptop computers in the "Initial Market Quantity of Computers Supplied" column. Suppose a new firm, NF Computers, enters the market with the supply schedule shown in the "Quantity of Computers Supplied by NF Computers" column.
a. Fill in the new market supply schedule in the "New Market Quantity of Computers Supplied" column.
Market Supply of Computers
Price (dollars)
Initial Market Quantity of Computers Supplied
Quantity of Computers Supplied by NF Computers
New Market Quantity of Computers Supplied
$500
1,000
75
475
900
69
450
800
63
425
700
54
400
600
45
375
500
36
350
27
325
300
18
b. At a price of $425 per laptop computer, the entry of the new firm will increase the quantity of computers supplied by computers, resulting in a total market quantity of computers.
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