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 |
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 |
Consider a market with two firms. The following table shows the supply schedules of the two firms: the SS1 column gives the supply schedule of firm 1 and the SS2 column gives the supply schedule of firm 2. Compute the market supply schedule.
Price (Rs.) | SS1 (units) | SS2 (units) |
---|---|---|
0 1 2 3 4 5 6 |
0 0 0 1 2 3 4 |
0 0 0 1 2 3 4 |
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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....
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