There are 20 identical firms in a market. At a price of Rs 20, firm 1 supplies 25 units of a good, What is the total supply at that price?

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125

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250

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500

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Solution

The correct option is D
500

Since the firms are identical, we can assume that their supply curves are identical. Hence, each firm would supply 25 units.
$∴ Q_{s} = 20 \times 25 = 500$

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There are 20 identical firms in a market. At a price of Rs 20, firm 1 supplies 25 units of a good, What is the total supply at that price?

The correct option is D 500 Since the firms are identical, we can assume that their supply curves are identical. Hence, each firm would supply 25 units. ∴Qs=20×25=500

The correct option is D
500

Since the firms are identical, we can assume that their supply curves are identical. Hence, each firm would supply 25 units.
$∴ Q_{s} = 20 \times 25 = 500$