The height of the supply curve at a quantity of 100 represents the
A) total value of all 100 units to consumers.
B) minimum price required to induce a producer to supply the hundredth unit.
C) equilibrium price of the good regardless of the position of the demand curve.
D) profit derived by producers from the sale of the hundredth unit.

Question

Quizplus · Accepted Answer

The height of the supply curve at a given quantity represents the marginal cost of producing that unit, which is the minimum price required to induce a producer to supply that unit.

The Height of the Supply Curve at a Quantity of 100