To determine the market supply,the quantities
A)Demanded at each price by each demander are added together.
B)Supplied at each price by each supplier are added together.
C)Demanded at each price by each demander and supplied at each price by each supplier are added together.
D)Demanded at each price by each demander are subtracted from the quantities supplied at each price by each supplier.

Question

Quizplus · Accepted Answer

To determine the market supply, we need to add up the quantities supplied at each price by each supplier. This is because market supply is the sum total of supply of all sellers in the market at different price levels. Adding up the quantities demanded at each price by each demander (Option A) would give us market demand, which is different from market supply. Option C adds both demand and supply, which is incorrect. Option D subtracts demand from supply, which is also incorrect. Therefore, the best choice is B, i.e., supplied at each price by each supplier are added together.

To Determine the Market Supply,the Quantities