1.

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.PriceSS1(kg)SS2(kg)000100200310420.5531641.5752862.5

Answer»
PriceSS1(kg)SS2(kg)Market Supply = SS1 + SS2
0000 + 0 = 0
1000 + 0 = 0
2000 + 0 = 0
3101 + 0 = 0
420.52 + 0.5 = 2.5
5313 + 1 = 4
641.54 + 1.5 = 5.5
7525 + 2 =7
862.56 + 2.5 = 8.5



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