Question

The following table gives the supply schedule for an single firm's monthly supply of shirts Assume there are 10 identical firms in the market. Using the multipoint curve drawing tool, draw the market supply curve, and label it. Carefully follow the instructions above, and only draw the required object. After plotting the final point of your multipoint curve, press the Esc key on your keyboard to end the line.

Answer 1

To draw the market supply curve for shirts, combine the supply schedules of all firms in the market and plot the resulting curve on a graph.

Step-by-step explanation:

To draw the market supply curve for shirts, we need to combine the supply schedules of all 10 identical firms in the market. Each firm's monthly supply is given in the table. We can add up the quantities supplied by each firm at each price level to get the total quantity supplied by the market. The resulting curve will be the market supply curve.

For example, if Firm 1 supplies 50 shirts at a price of $10, and Firm 2 supplies 30 shirts at the same price, the total quantity supplied at a price of $10 would be 80 shirts. We can repeat this process for all price levels to get the complete market supply curve.

Once we have calculated the total quantity supplied at each price level, we can plot these points on a graph, with price on the vertical axis and quantity on the horizontal axis. The resulting curve will be the market supply curve for shirts.