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  3. Study Set
    Principles of Economics Study Set 8
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    Exam 6: The Supply Curve and the Behavior of Firms
  5. Question
    Suppose a Firm's Supply Curve Can Be Expressed by the Following
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Suppose a Firm's Supply Curve Can Be Expressed by the Following

Question 71

Question 71

Essay

Suppose a firm's supply curve can be expressed by the following equation: Q = .5P.Also suppose that there are 30 identical firms in a market.Write the equation for the market supply curve.

Correct Answer:

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Q = 15P
Each of the 30 firms p...

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