Daffodil International University
Faculties and Departments => Business & Entrepreneurship => Topic started by: Md. Alamgir Hossan on April 03, 2017, 05:09:54 PM
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To get total or market supply, we have to add the supplies of all the producers of a product. Thus the market supply of a good is the sum of quantities of that good the individual firms are willing to offer for sale at a given time period. Suppose, there are two producers of X, viz. products A and B, in an area. Both of them supply at the same point of time.
We show the supply schedule and the supply curve of the first and second firm producers i.e., A and B, in Table 4.4 and Fig. 4.15. Here we assume that the minimum price at which Firm B can offer a positive quantity (i.e., at Rs. 12) is higher than required by Firm A (i.e., Rs. 8).