Class 12 Micro Economics - Chapter The Theory of the Firm under Perfect Competition NCERT Solutions | Consider a market with two firms. The fo
Consider a market with two firms. The following table shows the supply schedules of the two firms: the SS1 column gives the supply schedule of firm 1 and the SS2 column gives the supply schedule of firm 2. Compute the market supply schedule.
| Price (Rs.) | SS1 (units) | SS2 (units) |
|---|---|---|
| 0 1 2 3 4 5 6 |
0 0 0 1 2 3 4 |
0 0 0 1 2 3 4 |
| Price | SS1 (unit) |
SS2 (unit) |
Market Supply = SS1+SS2 |
|---|---|---|---|
| 0 | 0 | 0 | 0 + 0 = 0 |
| 1 | 0 | 0 | 0 + 0 = 0 |
| 2 | 0 | 0 | 0 + 0 = 0 |
| 3 | 1 | 1 | 1 + 1 = 2 |
| 4 | 2 | 2 | 2 + 2 = 4 |
| 5 | 3 | 3 | 3 + 3 = 6 |
| 6 | 4 | 4 | 4 + 4 = 8 |
More Questions From Class 12 Micro Economics - Chapter The Theory of the Firm under Perfect Competition
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- Q:-
Compute the total revenue, marginal revenue and average revenue schedules in the following table. Market price of each unit of the good is Rs 10.
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1
2
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4
5
6 - Q:-
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- Q:-
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