question_answer

Let there be four firms in a perfectly competitive market. All these firms have similar supply. Calculate the market supply.

Price (Rs.)	10	20	30	40	50	60	70	80
Supply of Individual Firm (kg)	0	5	10	15	20	65	30	35

Answer:

Individual and Market Supply Schedule                               

Price (Rs.)	Supply of Individual Firm(kg)(X)	Market Supply 4\[\times \]X (kgs)
10	0	0
20	5	20
30	10	40
40	15	60
50	20	80
60	25	100
70	30	120
80	35	140

Since the firms have identical supply, so supply of individual firm has been multiplied by 4 to find the market supply.