The market for good Y,a perfectly competitive good,is made up of 15 producers who each produce the same amount of good Y.If the price of good Y is $100 and the total quantity supplied is 150,how many units of good Y is each producer supplying?

A) 10
B) 150
C) 100
D) 15

Perfectly Competitive

A market structure where many firms offer homogenous products, entry and exit are easy, and no single buyer or seller can influence the market price.

Quantity Supplied

The amount of a good or service that producers are willing and able to sell at a given price at a specific time.

Good Y

A hypothetical or symbolic representation of a product or service in economic analyses to examine effects on demand, supply, and market dynamics.