Advertisement Remove all ads

Consider a Market with Two Firms. the Following Table Shows Supply Schedules of Two Firms: Ss1 Denotes the Supply Schedule of Firm 1 and Ss2 Denotes the Supply Schedule of Firm 2. - Economics

Sum

Consider a market with two firms. The following table shows supply schedules of two firms: SS1 denotes the supply schedule of firm 1 and SS2 denotes the supply schedule of firm 2. Calculate the market supply schedule.

Price (Rs )

SS1 (units)

SS2 (units)

0

0

0

1

0

0

2

0

0

3

1

1

4

2

2

5

3

3

6

4

4

Advertisement Remove all ads

Solution

 

Price (Rs )

SS1 (units)

SS2 (units)

Market Supply = SS1 + SS2

0

0

0

0 + 0 = 0

1

0

0

0 + 0 = 0

2

0

0

0 + 0 = 0

3

1

1

1 + 1 = 2

4

2

2

2 + 2 = 4

5

3

3

3 + 3 = 6

6

4

4

4 + 4 = 8

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 22 | Page 69
Advertisement Remove all ads
Advertisement Remove all ads
Share
Notifications

View all notifications


      Forgot password?
View in app×