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Author Question: How do we derive the short-run market supply curve in perfect competition? What will be an ideal ... (Read 42 times)

j.rubin

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on: Jun 29, 2018
How do we derive the short-run market supply curve in perfect competition?
 
  What will be an ideal response?

Question 2

Refer to Figure 3-4. At a price of 20, how many units will be sold?
 
  A) 400 B) 500 C) 600 D) 800


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mtmmmmmk

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Reply #1 on: Jun 29, 2018
Answer to Question 1

The short-run market supply curve is the horizontal sum of each individual firm's supply curve. That is, the amount supplied by the total market equals the sum of what each firm in the industry supplies at a given price.

Answer to Question 2

C


j.rubin

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Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

Laurenleakan

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Reply 3 on: Yesterday
Excellent

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