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Microeconomics II
book

Microeconomics II

by D.N. Dwivedi
August 2011
Intermediate to advanced content levelIntermediate to advanced
368 pages
14h 51m
English
Pearson India
Content preview from Microeconomics II
26 Chapter 2
Figure 2.5(b). In fact, it is the SMC curve beyond the point M where SMC = SAVC, which represents the
supply curve.
Derivation of Industry Supply Curve
e industry supply curve, or what is also called market supply curve, is the horizontal summation of the
supply curves of the individual rms. If cost curves of the individual rms of an industry are identi-
cal, their individual supply curves are also identical. In that case, industry supply curve can obtain by
multiplying the individual supply at dierent prices by the number of rms. In the short run, however,
the individual rm’s supply curves may not be identical. If so, the ...
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Publisher Resources

ISBN: 9788131797655