A seller's supply curve shows the seller's:
A)willingness to pay for an additional unit of output at each quantity.
B)opportunity cost of producing an additional unit of output at each quantity.
C)hourly wage for producing an additional unit of output at each quantity.
D)profit from producing an additional unit of output at each quantity.

Question

Quizplus · Accepted Answer

A seller will supply an additional unit of output if the market price is greater than or equal to the seller's opportunity cost of producing an additional unit.

A Seller's Supply Curve Shows the Seller's