Exhibit 6-6
-The market supply curve is obtained by summing
A)quantities produced by all firms at different prices.
B)total profits made by all firms at different quantities of output.
C)quantities produced by all firms at different prices and dividing by the number of firms.
D)prices charged by all firms for any given quantity.
E)marginal revenue curves of all firms in the market.

Question

Exhibit 6-6 
-The market supply curve is obtained by summing
A)quantities produced by all firms at different prices. 
B)total profits made by all firms at different quantities of output. 
C)quantities produced by all firms at different prices and dividing by the number of firms. 
D)prices charged by all firms for any given quantity. 
E)marginal revenue curves of all firms in the market.

Quizplus · Accepted Answer

The market supply curve represents the total quantity of a good or service that all firms in the market are willing and able to supply at different prices. This is obtained by summing the quantities produced by all firms at different prices.

Exhibit 6-6 -The Market Supply Curve Is Obtained by Summing