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Question
What are the values of (i), (ii) and (iii). Assume that there are only 3 firms in the market.
| Price (in ₹) | Firm A (units) | Firm B (units) | Firm C (units) | Market supply (units) |
| 10 | 0 | 25 | 10 | 35 |
| 20 | 10 | 30 | (ii) | 60 |
| 30 | (i) | 35 | 25 | 80 |
| 40 | 30 | 40 | 40 | (iii) |
| 50 | 40 | 45 | 50 | 135 |
Options
20, 20, and 80
10, 20, and 110
20, 30, and 135
20, 20, and 110
Solution
20, 20, and 110
Explanation:
| Price (in ₹) | Firm A (units) | Firm B (units) | Firm C (units) | Market supply (units) |
| 10 | 0 | 25 | 10 | 35 |
| 20 | 10 | 30 | 20 | 60 |
| 30 | 20 | 35 | 25 | 80 |
| 40 | 30 | 40 | 40 | 110 |
| 50 | 40 | 45 | 50 | 135 |
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