Saved Bookmarks
| 1. |
There are three identical firms in the market. The following table shows the supply schedule of a firm : Price (₹)Supply (Units) 00 11 22 34 46 58 610(1) Define market supply (2) Compute market supply schedule (3) Draw market supply curve |
||||||||||||||||||||||||||||||||||||||||
|
Answer» (1) The output level that firms in the market produce in aggregate, corresponding to different values of market prices. (2)
(3) Draw a market supply curve that slopes upwards corresponding to the above values. |
|||||||||||||||||||||||||||||||||||||||||