Question: how would I plot the supply curves Use the orange points (square symbol) to plot the initial short-run industry supply curve when there are 10
how would I plot the supply curves
Use the orange points (square symbol) to plot the initial short-run industry supply curve when there are 10 firms in the market. (Hint: You can disregard the portion of the supply curve that corresponds to prices where there is no output since this is the industry supply curve.) Next, use the purple points (diamond symbol) to plot the short-run industry supply curve when there are 20 firms. Finally, use the green points (triangle symbol) to plot the short-run industry supply curve when there are 30 firms. 80 0 72 Supply (10 firms) 64 48 Demand Supply (20 firms) PRICE (Dollars per pound) 40 A 32 Supply (30 firms) 24 16 0 120 240 360 480 600 720 840 980 1080 1200 QUANTITY (Thousands of pounds)Step by Step Solution
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