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 1 2 3 4 5 6 7 8 |
0 0 0 1 2 3 4 5 6 |
0 0 0 0 0.5 1 1.5 2 2.5 |
| Price | SS1 (kg) | SS2 (kg) | Market Supply = SS1 + SS2 |
|---|---|---|---|
| 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 |
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Welcome to the NCERT Solutions for Class 12 Micro Economics - Chapter . This page offers a step-by-step solution to the specific question from Excercise 1 , Question 23: Consider a market with two firms. In the following table, columns labelled as SS1 and SS2 give the s....
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