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Suppose there are three firms A, B and C supplying sugar in a market.
At a price of Rs. 3.000 per quintal of sugar A, B and C supplied
40 quintal, 50 quintal and 60 quintal of sugar respectively in a day.
Find market supply of sugar.
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Just now we said that the six major factors determining supply of a commodity are – price of commodity, price of other related goods, price of inputs, technology of production, objective of the firm and government policy.
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