In order to derive the market supply curve from individual supply curves, we add up the
A. various quantities that individual sellers are willing and able to supply at different prices.
B. total number of sellers in the market at a given time.
C. costs that all individual sellers incur in producing the product.
D. various prices that individual sellers are charging for the quantities of the product available.
Answer: A
You might also like to view...
If the price of a motorcycle is $5,000 . and workers who make motorcycles earn a wage rate of $50, how many workers will be hired when the labor market is in equilibrium?
a. There is not enough information to determine how many would be hired. b. Hiring will continue until the price falls to $50 . c. Hiring will continue until the wage rate rises to $5,000. d. Hiring will continue until the MRP of the worker is greater than zero. e. Hiring will continue until the MPP of the last worker is 0.01 motorcycles.
A lump-sum tax does not produce a deadweight loss
a. True b. False Indicate whether the statement is true or false
OPEC formed as a result of:
A. a desire to control the pricing on members' resources. B. political agitation against capitalism. C. the need to fix prices. D. the request of OECD.
Recall the Application about the break-even price for growing switchgrass, a perennial grass that is native to the U.S. plains states and is used to create biofuel, to answer the following question(s).Recall the Application. If the minimum average total cost for switchgrass farmers is $55 per ton and the minimum average variable cost is $40 per ton, then at a price of $50 per ton in the short run the switchgrass farmer will:
A. shut down, that is, bring no switchgrass to market. B. operate and lose money. C. make a zero economic profit. D. make a positive economic profit.