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

No worries! We‘ve got your back. Try BYJU‘S free classes today!

125

No worries! We‘ve got your back. Try BYJU‘S free classes today!

250

No worries! We‘ve got your back. Try BYJU‘S free classes today!

500

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

Open in App

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. $∴ Q_{s} = 20 \times 25 = 500$

Suggest Corrections

Similar questions

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?

At the market price of Rs 10, a firm supplies 4 units of output. The market price increases to Rs 30. The price elasticity of the firm’s supply is 1.25. What quantity will the firm supply at the new price?

At the market price of Rs. 10, a firm supplies 4 units of output. The market price increases to Rs. 30. The price elasticity of the firm's supply is 1.25. What quantity will the firm supply at the new price?

The market price of a good changes from Rs 5 to Rs 20. As a result, the quantity supplied by a firm increases by 15 units. The price elasticity of the firm’s supply curve is 0.5. Find the final output levels of the firm.

There are three identical firms in a market. The following table shows the supply schedule of firm 1. Compute the market supply schedule.

$\begin{matrix} Price(Rs.) & 0 & 1 & 2 & 3 & 4 & 5 & 6 & 7 & 8 S S_{1} (Units) & 0 & 0 & 2 & 4 & 6 & 8 & 10 & 12 & 14 \end{matrix}$

Join BYJU'S Learning Program

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

The correct option is D 500Since 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. $∴ Q_{s} = 20 \times 25 = 500$