You are given the information in the table below regarding the supply of Burgers: Price of Burgers Quantity Supplied of Burgers Rajib smit salman Tk. 200 8 6 7 Tk. 300 14 10 12 i) Draw smit’s Supply curve for Burgers. ii) Draw the Market Supply curve for Burgers.

You are given the information in the table below regarding the supply of Burgers: Price of Burgers Quantity Supplied of Burgers Rajib smit salman Tk. 200 8 6 7 Tk. 300 14 10 12 i) Draw smit’s Supply curve for Burgers. ii) Draw the Market Supply curve for Burgers.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

You are given the information in the table below regarding the supply of Burgers:

Price of Burgers	Quantity Supplied of Burgers
Rajib	smit	salman
Tk. 200	8	6	7
Tk. 300	14	10	12

i) Draw smit’s Supply curve for Burgers.

ii) Draw the Market Supply curve for Burgers.

Price of Burgers
Quantity Supplied of Burgers
Rajib
smit
salman
Tk. 200
8
7
Tk. 300
14
10
12

Defintion Defintion Curve that represents the graphical relationship between the total supply of goods and services and the price level in the economy. When the price level increases, producers tend to supply more of a product in the market to earn a higher revenue or vice versa.

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