Chapter-4 Supply Analysis [Latest edition] (B) Observe the market supply schedule of potatoes and answer the following question:

Balbharati solutions for Economics HSC 12th Standard Maharashtra State Board 

 

Chapter-4 Supply Analysis [Latest edition] [Latest edition]

(B) Observe the market supply schedule of potatoes and answer the following question:

Price in ₹	Firms			Market supply (kg)
	A	B	C
1	____	20	45	100
2	37	30	45	_____
3	40	____	55	155
4	44	50	____	154

 

Draw the market supply curve from the schedule and explain it.

Price in ₹	Firms			Market supply (kg)
	A	B	C
1	35	20	45	100
2	37	30	45	112
3	40	60	55	155
4	44	50	60	154

Diagram

Note: -May be there is a printing mistake in question table because the supply curve is always increased

1. X-axis represents quantity supplied and Y-axis represents the price of the commodity.

2. Supply curve 'SS' slopes upwards from left to right which has a positive slope.

3. It indicates a direct relationship between price and quantity supplied.