Ab 41
Subject – Economics
Transcribed Image Text:The supply curves for the only two firms in a competitive industry are given by:
S?: P=2Q?
S2: P=2+Q2,
where Q? is the output of firm 1 and Q2 is the output of firm 2. These two supply curves are shown in the graph below. Draw the
market supply curve for this industry.
Instructions: Use the tool provided to plot 4 price-quantity combinations for prices $0, $2, $4 and $6.
?
Market Supply
Price
7
6
5
4
3
2
1
0
1
2
S?
3
S??
4
Quantity
5
6
7
8
Tools
line tool
S?: P=2Q?
S2: P=2+Q2,
where Q? is the output of firm 1 and Q2 is the output of firm 2. These two supply curves are shown in the graph below. Draw the
market supply curve for this industry.
Instructions: Use the tool provided to plot 4 price-quantity combinations for prices $0, $2, $4 and $6.
?
Market Supply
Price
7
6
5
4
3
2
1
0
1
2
S?
3
S??
4
Quantity
5
6
7
8
Tools
line tool
