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

Price (Rs ) SS₁ (units)

0 0

1 0

2 2

3 4

4 6

5 8

6 10

7 12

8 14

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Solution

As all the three firms are identical, so they have same individual supply curve and therefore the market supply will be the summation of supplies of all three firms.

Price (Rs ) SS₁ (units) SS₂ (units) SS₃ (units) Market Supply = SS₁ + SS₂ + SS₂

0 0 0 0 0

1 0 0 0 0

2 2 2 2 6

3 4 4 4 12

4 6 6 6 18

5 8 8 8 24

6 10 10 10 30

7 12 12 12 36

8 14 14 14 42

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Price (Rs )	SS₁ (units)	SS₂ (units)	SS₃ (units)	Market Supply = SS₁ + SS₂ + SS₂
0	0	0	0	0
1	0	0	0	0
2	2	2	2	6
3	4	4	4	12
4	6	6	6	18
5	8	8	8	24
6	10	10	10	30
7	12	12	12	36
8	14	14	14	42

There are three identical firms in a market. The following table shows the supply schedule of firm 1. Calculate the market supply schedule. Price (Rs ) SS1 (units) 0 0 1 0 2 2 3 4 4 6 5 8 6 10 7 12 8 14

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

Price (Rs ) SS₁ (units)

0 0

1 0

2 2

3 4

4 6

5 8

6 10

7 12

8 14