In order to derive the market supply curve from individual supply curves, we add up the
A. various quantities that individual sellers are willing and able to supply at different prices.
B. total number of sellers in the market at a given time.
C. costs that all individual sellers incur in producing the product.
D. various prices that individual sellers are charging for the quantities of the product available.
Answer: A
You might also like to view...
According to Keynes, an individual's level of saving is primarily determined by
A) the individual's current level of disposable real income. B) the individual's assessment of the future direction of the stock market. C) real Gross Domestic Product (GDP) for the economy. D) the interest rate.
The effects of tariffs and quotas are: a(n) __________ in the prices of imported goods to domestic consumers, and a(n) __________ in imports
A) increase; increase B) increase; decrease C) decrease; increase D) decrease; decrease