The short-run market supply curve is
a. the horizontal summation of each firm's short-run supply curve.
b. the vertical summation of each firm's short-run supply curve.
c. the horizontal summation of each firm's short-run average cost curve.
d. the vertical summation of each firm's short-run average cost curve.
a
You might also like to view...
Stockholders are residual claimants, meaning that they
A) have the first priority claim on all of a company's assets. B) are liable for all of a company's debts. C) will never share in a company's profits. D) receive the remaining cash flow after all other claims are paid.
A price-taking firm's marginal revenue is ______ the price of its output.
A. equal to B. greater than C. less than D. less than or equal to
How does corruption contribute to government failure?
Please provide the best answer for the statement.
Refer to the above figure. If the price level is 80
A. the economy will have economic growth and the new equilibrium price level will be 80. B. the total planned real expenditures by individuals, businesses, and the government are less than total planned production by firms. C. the total planned real expenditures by individuals, businesses, and the government exceed total planned production by firms. D. the aggregate demand curve will automatically shift leading to a stable equilibrium.