Question 33
MediumOriginal questionTwo firms have supply functions q₁ = 2P and q₂ = 3P − 5 (for P ≥ ₹2). What is market supply at P = ₹10?
Show the answer and explanation
CorrectNot quiteAnswer C
Correct answer: C
Explanation
q₁ = 2 × 10 = 20; q₂ = 3 × 10 − 5 = 25.
Market supply = 20 + 25 = 45.
- Concept
- Adding supply functions
- Typical timeTypical
- 70 s
- Your timeYours
- —
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