Question
The supply curves for the only two firms in a competitive industry are given by, respectively: P = 2Q1 and P = 2 Q2, where
The supply curves for the only two firms in a competitive industry are given by, respectively:
P = 2Q1 and P = 2 Q2,
where Q1 is the output of firm 1 and Q2 is the output of firm 2.
- What is the market supply curve for this industry?
(Hint: Graph the two curves side by side; then add their respective quantities at a sample of different prices.)
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A Textbook Of Mathematical Economics
Authors: Dr Chandrakant Singh
1st Edition
9353140986, 9789353140984
