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Use the orange points (square symbol) to plot the initial short-run industry supply curve when there are 20 firms in the market. (Hint: You can disregard the portion of the supply curve that corresponds to prices where there is no output since this is the industry supply curve.) Next, use the purple points (diamond symbol) to plot the short-run industry supply curve when there are 30 firms. Finally, use the green points (triangle symbol) to plot the short-run industry supply curve when there are 40 firms.

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temmydbrain

Answer:

Check the explanation

Explanation:

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jayilych4real

The how-to graphical representation of the initial short-run industry supply curve is shown below.

What is Supply Curve?

This is the depiction of the relationship that exists between the price of a good and its supplied quantity in a given time frame.

Hence, making a graphical representation is necessary, but a short guide is required so you can do it yourself.

Given that there are 20 firms in the market with different prices and quantities of goods, the short-run industry equilibrium would show that there was a steady increase in the quantities demanded as the price fell at the orang points.

In the purple points, it can be seen that the quantity demanded slowly increased with the increase in price.

Read more about supply curve here:
https://brainly.com/question/26430220

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