Short run market supply curves are formed by adding up individual firm supply curves in the industry.

Answer the following statement true (T) or false (F)

True

Rationale: In the short run, the number of firms in the industry is fixed -- which means we can add their supply curves.

Economics

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What approach to fairness argues in favor of government policies that redistribute income so that there is more equality of income?

What will be an ideal response?

Economics

If a good is excludable, ________

A) one person's use of the good reduces the amount of the good available to others B) people can be prevented from using the good C) more than one person cannot use the good at the same time D) several people can use the good simultaneously

Economics