The market supply curve in a perfectly competitive market is usually
A)Downward-sloping.
B)Horizontal.
C)Vertical.
D)Upward-sloping.

Question

Quizplus · Accepted Answer

In a perfectly competitive market, the market supply curve is typically upward-sloping. This reflects the principle that as prices increase, producers are willing to supply more of the good, since higher prices typically cover the marginal cost of producing additional units.

The Market Supply Curve in a Perfectly Competitive Market Is