The market supply schedule reflects the total quantity:
a. supplied at market price
b. supplied by all of the producers at the equilibrium price.
c. supplied at each price by all of the producers.
d. the vertical summation of the supply curves for individual firms.
c
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Computer technology has enhanced a manager's ability to "know the customer."
Indicate whether the statement is true or false
When economists refer to investment, they mean the purchasing of stocks and bonds and other types of saving
a. True b. False Indicate whether the statement is true or false
The production possibilities curve bows outward from the origin because:
A. resources are not of uniform quality. B. more production of one good results in more production of the other good. C. opportunity costs increase as the production of a good increases. D. opportunity costs decrease as the production of a good increases.
The additional cost resulting from a small increase in some activity is called the:
A. opportunity cost. B. marginal benefit. C. marginal cost. D. diminishing returns of the activity.