1.

Consider a market with two firms. The following table shows supply schedules of two firms: SS1 denotes the supply schedule of firm 1 and SS2 denotes the supply schedule of firm 2. Calculate the market supply schedule.PriceSS1(units)SS2 (units)000100200311422533644

Answer»
PriceSS1(units)SS(units)Market Supply = SS1 + SS2
0000 + 0 = 0
1000 + 0 = 0
2000 + 0 = 0
3111 + 1 = 2
4222 + 2 = 4
5333 + 3 = 6
6444 + 4 = 8



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