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Question
There are three identical firms in a market. The following table shows the supply schedule of firm 1. Compute the market supply schedule.
| Price (₹ per unit): | 0 | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 |
| Supply (units): | 0 | 0 | 2 | 4 | 6 | 8 | 10 | 12 | 14 |
Chart
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Solution
| Price (in ₹) | I | II | III | I + II + III |
| 0 | 0 | 0 | 0 | 0 |
| 1 | 0 | 0 | 0 | 0 |
| 2 | 2 | 2 | 2 | 6 |
| 3 | 4 | 4 | 4 | 12 |
| 4 | 6 | 6 | 6 | 18 |
| 5 | 8 | 8 | 8 | 24 |
| 6 | 10 | 10 | 10 | 30 |
| 7 | 12 | 12 | 12 | 36 |
| 8 | 14 | 14 | 14 | 42 |
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