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Question
Write short notes on individual supply and market supply.
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Solution
Individual supply shows various amounts of a commodity that an
individual firm in the market is willing to sell at different possible
prices of that commodity.market supply is the total quantity of a good or service all producers are willing to provide at the prevailing set of relative prices during a defined period of time. The market supply is the sum of all individual producer supplies.
Individual supply shows various amounts of a commodity that an
individual firm in the market is willing to sell at different possible
prices of that commodity.
market supply is the total quantity of a good or service all producers are willing to provide at the prevailing set of relative prices during a defined period of time. The market supply is the sum of all individual producer supplies.
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