Firm and industry supply schedules, Managerial Economics

Firm and industry supply schedules

The plan or table of possible quantities that will be offered for sale at different prices by individual firms for a commodity is called supply schedule.

                          Price Per Unit                                                  Quantity offered for

                             (KShs)                                                                     Sales per month (in '000)

      20                                                                   10

                                      25                                                                    20

                                      30                                                                    30

                                      35                                                                    40

                                      40                                                                    50

                                      45                                                                    60

                                      50                                                                    70

Table :       The Firm Supply Schedule

Theoretically the supply schedules of all firms within the industry can be combined to form the market or industry supply schedule, representing the total supply for that commodity at various prices.

                         Price per unit                                                               Quantity offered for

                            (KShs)                                                                      Sales per month (in '000)

                                    20                                                                            80

                                    25                                                                            120

                                    30                                                                            160

                                    35                                                                            200

                                    40                                                                            240

                                    45                                                                            285

                                    50                                                                            320

Table :  The Industry supply schedule

These prices are called the supply prices.

Posted Date: 11/27/2012 5:42:25 AM | Location : United States







Related Discussions:- Firm and industry supply schedules, Assignment Help, Ask Question on Firm and industry supply schedules, Get Answer, Expert's Help, Firm and industry supply schedules Discussions

Write discussion on Firm and industry supply schedules
Your posts are moderated
Related Questions
Marris constraints of growth maximisation

Why Do Monopolies Exist? Monopolists have market power and as a consequence will charges higher prices and generate less output than a competitive industry. It produces profit

Air Canada and KLM compete for customers on flights among Amsterdam and Toronto. The total number of passengers (Q) flown by these two firms is the sum of passengers who fly KLM, Q

Describe the Application of economic theories Pertinent business decisions necessitate an unambiguous understanding of the environmental and technical conditions under which bu


Asuume there are two inputs in the production function, labor & capital, and these two inputs are perfect substitutes. The existing technology permits one machine to do the work of

Suppose Fiat recently entered into an Agreement and Plan of Merger with Case for $4.3 billion. Prior to the merger, the market for four-wheel- Drive tractors consisted of five firm

In a one-shot game, if you advertise and your rival advertises, you will each earn RM5 million in profits. If neither of you advertises, your rival will make RM4 million and you w

Average Total Costs (ATC) This is total cost per unit of output, obtained by dividing total cost by total output i.e. ATC   =   Total Cost              Total Outp

The demand curve for the product of a monopolist is a straight line such that quantity just falls to zero at a price of Rs 20 per unit and that the maximum quantity (at zero price)