There are 20 identical firms in a market. At a price of Rs 20, firm 1 supplies 2

Question

There are 20 identical firms in a market. At a price of Rs 20, firm 1 supplies 25 units of a good, What is the total supply at that price?

Options:

A . 25

B . 125

C . 250

D . 500

Answer: Option D
:
D
Since the firms are identical, we can assume that their supply curves are identical. Hence, each firm would supply 25 units.

∴ Q_{s} = 20 \times 25 = 500

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