What is the relationship between individual supply and market supply?
What will be an ideal response?
The market supply equals the sum of the individual quantities supplied by all the producers at each price. The market supply curve is equal to the horizontal sum of all the individual supply curves.
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Use the above table. When real disposable income is $125
A) APC = 0.80. B) MPS = 0.96. C) APS = 0.20. D) APC = 0.96.
The figure above illustrates aggregate demand and aggregate supply in Sparta. Sparta's price level will rise above 100 if ________
A) government expenditure decreases B) the quantity of money increases C) the quantity of capital increases D) taxes increase
Total fixed cost
A) increases as output increases. B) does not change as output changes. C) decreases as output increases. D) initially decreases and then increases as output increases.
In a centrally planned economy, the government decides how economic resources will be allocated
Indicate whether the statement is true or false