Advertisement Remove all ads

Consider a Market with Two Firms. in the Following Table, Columns Labelled as Ss1 And Ss2 Give the Supply Schedules of Firm 1 and Firm 2 Respectively. - Economics

Sum

Consider a market with two firms. In the following table, columns labelled as SS1 and SS2 give the supply schedules of firm 1 and firm 2 respectively. Compute the market supply schedule.

Price (Rs )

SS1 (kg)

SS2 (kg)

0

0

0

1

0

0

2

0

0

3

1

0

4

2

0.5

5

3

1

6

4

1.5

7

5

2

8

6

2.5

Advertisement Remove all ads

Solution

Price (Rs )

SS1 (kg)

SS2 (kg)

Market Supply = SS1 + SS2 (kg)

0

0

0

0 + 0 = 0

1

0

0

0 + 0 = 0

2

0

0

0 + 0 = 0

3

1

0

1 + 0 = 1

4

2

0.5

2 + 0.5 = 2.5

5

3

1

3 + 1 = 4

6

4

1.5

4 + 1.5 = 5.5

7

5

2

5 + 2 = 7

8

6

2.5

6 + 2.5 = 8.5

Concept: Market Supply Curve
  Is there an error in this question or solution?
Advertisement Remove all ads

APPEARS IN

NCERT Class 12 Economics Introductory Microeconomics
Chapter 4 The Theory Of The Firm Under Perfect Competition
Exercise | Q 23 | Page 69
Advertisement Remove all ads
Advertisement Remove all ads
Share
Notifications

View all notifications


      Forgot password?
View in app×