Which of the following is true about a competitive market supply curve?
A. It is vertical.
B. It is horizontal.
C. It is downward-sloping to the right.
D. It is the sum of the marginal cost curves of all firms.
Answer: D
You might also like to view...
Refer to the figure below.________ inflation will eventually move the economy pictured in the diagram from short-run equilibrium at point ________ to long-run equilibrium at point ________. 
A. Rising; A B. Falling; A; C C. Falling; B: C D. Rising; A; C
Who is considered to be a free rider according to economists?
If the MRP of labor decreases, labor
a. demand will decrease b. demand will increase c. supply will increase d. supply will decrease e. demand and supply will be unaffected
Is basic research excludable? Is it rival in consumption? How do we classify basic research in terms of the four types of goods?