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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. Price (Rs ) SS1 (units) SS2 (units) 0 0 0 1 0 0 2 0 0 3 1 1 4 2 2 5 3 3 6 4 4 |
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Answer» 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.
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