We can find the market supply for phones by:
A. adding all of the prices at which sellers are willing to sell phones.
B. multiplying the number of sellers by the number of consumers.
C. adding the number of phones buyers want to buy at each price level.
D. adding the individual supply curves for phones.
Answer: D
You might also like to view...
If output is increased in the long-run, then in the presence of internal economies of scale the number of firms will ________, and in the presence of constant external returns to scale the number of firms will ________
A) decrease; decrease B) increase; remain constant C) remain constant; increase D) decrease; remain constant E) increase; decrease
What factors are part of the leading economic indicators?
a. Employment, personal income, and production b. Interest rates and average duration of unemployment c. Consumer confidence, consumer spending, and machinery orders d. House sales, personal income, and interest rates