Use the following to answer questions:
-(Table: Cherry Farm) Look at the table Cherry Farm. Which of the following is a point on the industry short-run supply curve?

Question

Use the following to answer questions: 
-(Table: Cherry Farm) Look at the table Cherry Farm. Which of the following is a point on the industry short-run supply curve?

Quizplus · Accepted Answer

The industry short-run supply curve is the horizontal sum of the individual firm's supply curves. The point on the industry short-run supply curve is the point where the quantity supplied by the firm is equal to the quantity demanded by the industry. In this case, the point on the industry short-run supply curve is $2; 300 pounds.

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