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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 0 0 1 0 0 2 0 0 3 1 0 4 2 0.5 5 3 1 6 4 1.5 7 5 2 8 6 2.5 |
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Answer» 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.
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