Supply and Demand coordination
Oilau
Question
Summation of individual supply curves in a market forms a single market supply curve. This question uses your common sense and your understanding of what is a market supply curve. Find the market supply equation from the following individual supply curves (show your calculations)We have 10 sellers, each with supply of q=3p6 sellers, each with supply of q=2p2 sellers, each with supply of q=5p(2)What will happen if two of the suppliers with the supply curve q=5p leave the market due to tough competition? What will be the new market supply curve/equation?
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