A normal market supply curve reflects:

Question

Quizplus · Accepted Answer

A normal market supply curve reflects private costs to sellers, which represent the costs of producing a good or service, and are used to determine the price at which suppliers are willing to sell. The curve does not account for externalities, such as social benefits or external benefits to sellers. Private benefits to sellers may be reflected in their supply decisions, but they are not the sole factor in determining the supply curve.

A Normal Market Supply Curve Reflects