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(Solved): 6. Individual and market supply schedules: On the following graph, plot Hubert's supply of ice cr ...



6. Individual and market supply schedules:
On the following graph, plot Huberts supply of ice cream cones using the green po

Now, suppose that Kates twin brother, who has an identical cost structure and ice cream cones supply curve as Kate, moves to

6. Individual and market supply schedules: On the following graph, plot Hubert's supply of ice cream cones using the green points (triangle symbol). Next, plot Kate's supply of ice creames using the purple points (diamond symbol). Finally, plot the market supply of ice cream cones using the orange points (square symbol). Now, suppose that Kate's twin brother, who has an identical cost structure and ice cream cones supply curve as Kate, moves to the area, adding another producer to this market. As a result, there will be a the market supply curve because there will be a change in quantity supplied


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PRICE : Price is a factor of the supply curve which causes a movement along the supply curve. It means as price increases or decreases; then the suppl
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