Page 47 - VIRANSH COACHING CLASSES

sell at various prices, during a given period schedule refers to a tabular representation
of time. showing different quantities of commodity
Table 4.1 which all producers are prepared to sell at
Individual Supply Schedule different prices at a given period of time.

Price of a commodity Supply of a commodity Table 4.2
x (in ` per kgs.) x (in kgs.) Market Supply Schedule
10 100 Price of Quantity supplied Market

20 200 commodity (in kgs.) supply
(in kgs.)
30 300 (in `) Seller Seller Seller (A+B+C)
40 400 A B C
10 100 200 300 600
50 500
20 200 300 400 900
Table 4.1 explains the functional 30 300 400 500 1200
relationship between price and quantity supplied 40 400 500 600 1500
of a commodity. Lower the price, lower the
quantity of a commodity supplied and vice 50 500 600 700 1800
versa. At the lowest price of ` 10, supply is also In Table 4.2, market supply is obtained by
lowest at 100 kgs. At the highest price of ` 50, adding the supply of sellers A, B and C at different
quantity supplied is highest at 500 kgs. prices. At a highest price of ` 50, market supply

Individual Supply Curve : It is a graphical is the highest at 1800 kgs. At a lowest price of
presentation of individual supply schedule. ` 10 market supply is lowest at 600 kgs.
Individual Supply Curve Market Supply Curve : It is a graphical

SS = Individual Supply Curve presentation of market supply schedule.
Market Supply Curve
Y
S SS = Market Supply Curve
50 Y
S
40
50
Price in ` 30 40

20

10 Price in ` 30
20
S
0 100 200 300 400 500 X 10 S

Quantity Supplied in kgs 0 300 600 900 1200 1500 1800 X
Fig. 4.2
Quantity Supplied in kgs
In figure 4.2, quantity supplied is shown on Fig. 4.3
the X axis and price on the Y axis. Supply curve In figure 4.3, quantity supplied is shown on
SS slopes upwards from left to right, indicating the X axis and price on the Y axis. Supply curve
a direct relationship between price and quantity SS slopes upwards from left to right, indicating
supplied.
a direct relationship between price and market
2) Market Supply Schedule : Market supply supply.

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