In the above figure, assuming Firm 1 and Firm 2 are the sole producers in the industry, the industry quantity supplied at price P2 is equal to
A) Q1 + Q2.
B) Q1 + Q3.
C) Q2 + Q4.
D) Q4 - Q2.
B
Economics
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Immigration tends to lower the income of all factors of production. True or false
Indicate whether the statement is true or false
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In 2015, U.S. GDP was almost
a. $18 trillion. b. $15 trillion. c. $14 trillion. d. $12 trillion.
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Figure 10-6
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In Figure 10-6, which graph best illustrates the effect of the beginning of the Iraq war in 2003?
A. (1) B. (2) C. (3) D. (4)
Economics
Which of the following "costs" could a firm that wants to remain in business avoid if it halted current production?
A. Opportunity costs B. Variable costs C. Fixed costs D. Sunk costs
Economics