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There are three identical firms in a mar | Class 12 Micro Economics Chapter The Theory of the Firm under Perfect Competition, The Theory of the Firm under Perfect Competition NCERT Solutions

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 (Rs.) SS1 (units)
0
1
2
3
4
5
6
7
8
0
0
2
4
6
8
10
12
14
Answer:

Price SS1
(kg)
SS2
(kg)
SS3
(kg)
Market Supply
= SS1+SS2+SS3
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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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 24: There are three identical firms in a market. The following table shows the supply schedule of firm 1....