Suppose there are two producers in the producrs in the market for a commodity and their supply functions are follows:
`Q_(1)` = - 30 + 3p for any price more than or equal to 10 and `Q_(1)` = 0 at any price less than 10.
`Q_(2)` = - 20 +2p for any price more than or equal to 10, and `Q_(2) = 0` at any price less than 10.
Find out the market supply function .

Explanation

From the given supply functions, it can be seen that both the producers do not want to supply the commodity for any price less than ₹10. Hence, the market supply will be:
`Q_("Market ") = Q_(1)+ Q_(2)`
`Q_("Market")` =(-30 + 3p) + (-20 +2p)
`Q_("Market") = - 50 + 5p ` for any price more than or equal to 10 and `Q_("Market")` = 0 at any price less than 10.
Practicals on Elasticity of supply
Formula of Elasticity of Supply
Elasticity of Supply `(E_(s)) = ("Perecentage Change in Quantity Supplied")/(" Perecntage Change in Price")`
Elasticity of Supply `(E_(s)) = (Delta Q)/(DeltaP) xx (P)/(Q) " "OR" " (1)/("Solpe of Supply Curve")xx(P)/(Q)`