The market demand curve for a good shows ________ and the market supply curve shows ________

A) consumers' willingness to pay for the good; producers' marginal cost of producing the good
B) producers' marginal cost of producing the good; consumers' willingness to pay for the good
C) consumers' willingness to pay for the good; the opportunity cost of producing the good
D) consumers' willingness to pay for the good; producers' total cost of producing the good


A

Economics

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A) $33.33 (approximate). B) $55. C) $200. D) $250.

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Happiness is ______ correlated with income.

a. positively b. negatively c. not d. universally

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Summing all of the costs that do NOT change as output varies yields

A. fixed costs. B. implicit costs. C. explicit costs. D. variable costs.

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Which product will have the most inelastic demand curve?

A. Beer B. Motor vehicles C. Milk D. Household electricity

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