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Class 12
Micro Economics
The Theory of the Firm under Perfect Competition
consider a market with two firms in the following...

Question:
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 (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

Answer:

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

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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Question:
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

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Question: 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

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Recently Viewed Questions of Class 12 Micro Economics

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Question:
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