Question

1. individual and market supply

suppose that felix and janet are the only suppliers of collectible action figures in a particular market. the following table shows their annual supply schedules:

price (dollars per action figure)	felixs quantity supplied (action figures)	janets quantity supplied (action figures)
4	8	14
6	12	18
8	14	20
10	16	22

on the following graph, plot felixs supply of collectible action figures using the green points (triangle symbol). next, plot janets supply of collectible action figures using the purple points (diamond symbol). finally, plot the market supply of collectible action figures using the orange points (square symbol).

Explanation:

Step1: Plot Felix's supply

Use the pairs of price and Felix's quantity - supplied from the table. For example, when the price is $2$, Felix's quantity supplied is $0$; when the price is $4$, Felix's quantity supplied is $8$, and so on. Plot these points on the graph using the green - triangle symbol.

Step2: Plot Janet's supply

Use the pairs of price and Janet's quantity - supplied from the table. For example, when the price is $2$, Janet's quantity supplied is $8$; when the price is $4$, Janet's quantity supplied is $14$, and so on. Plot these points on the graph using the purple - diamond symbol.

Step3: Calculate and plot market supply

The market supply at each price is the sum of Felix's and Janet's quantity supplied.
For price $2$: Market supply = $0 + 8=8$.
For price $4$: Market supply = $8 + 14 = 22$.
For price $6$: Market supply = $12+18 = 30$.
For price $8$: Market supply = $14 + 20=34$.
For price $10$: Market supply = $16+22 = 38$.
Plot these market - supply points on the graph using the orange - square symbol.

If Janet moves away, leaving Felix as the only producer in the market, there will be a left - ward shift in the market supply curve because the total quantity supplied at each price level will be lower (since one of the suppliers is no longer in the market).

Answer:

Left - ward shift