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Questions
Derive market supply schedule and curve from the following hypothetical individual supply schedules of two firms A and B.
| Price | SA | SB |
| 2 | 10 | 7 |
| 3 | 12 | 8 |
| 4 | 14 | 9 |
With the help of a hypothetical supply schedule, draw a supply curve.
Diagram
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Solution
| Price | SA | SB | Market Supply (SA + SB) |
| 2 | 10 | 7 | 17 |
| 3 | 12 | 8 | 20 |
| 4 | 14 | 9 | 23 |
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