The supply curve for CDs shows the
A) minimum price that producers must be offered to get them to produce a given quantity of CDs.
B) maximum price that producers must be offered to get them to produce a given quantity of CDs.
C) maximum price that consumers are willing to pay if a given quantity of CDs is available.
D) minimum price that consumers are willing to pay if a given quantity of CDs is available.

Question

Quizplus · Accepted Answer

The supply curve represents the minimum price that producers must be offered to produce a given quantity of goods, in this case, CDs. It reflects the costs of production and the minimum price at which producers are willing to supply the market.

The Supply Curve for CDs Shows the