Firm and industry supply schedules, Managerial Economics

Assignment Help:

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.


Related Discussions:- Firm and industry supply schedules

Determinants of price elasticity, Discuss the determinants of price elastic...

Discuss the determinants of price elasticity of demand

Price elasticity of demand, For some time, two firms have charged $0.90 per...

For some time, two firms have charged $0.90 per standard unit of crating materials for shipping a particular type of machine tool and each has been selling about 20,000 units per m

Borrowing facilities internationally, Borrowing Facilities If a countr...

Borrowing Facilities If a country's currency is not convertible, it can borrow from countries whose currencies are convertible and use the convertible currencies to make its i

Gains from international trade, Gains From International Trade The gai...

Gains From International Trade The gains from International trade are to make the participating countries better of than they would have otherwise been.   This will be the res

Short run cost , What will be the table of total cost function?

What will be the table of total cost function?

Bank deposit and credit creation, Bank Deposit Bank notes and coins to...

Bank Deposit Bank notes and coins together constitute the currency in circulation.  But they form only a part of the total money supply.  The larger part of the money supply i

Measures to control inflation, Measures to control inflation An inflat...

Measures to control inflation An inflationary situation can effectively be addressed/tackled if the cause is first and foremost identified.   Governments have basically three

Characteristics of money, Characteristics of Money Over time, therefor...

Characteristics of Money Over time, therefore, it became clear that for an item to act as money it must possess the following characteristics. Acceptability If

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd