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

In the short run, the industry supply curve is the horizontal summation of individual firms' supply curves. At a price of $4, the industry supplies 400 pounds, which is a point on the short-run supply curve.

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