A supply curve can be thought of as
A)a graphical display of "market potential."
B)a graphical representation of the information in a supply schedule.
C)showing the maximum quantities that firms are able to produce.
D)a forecasting tool.
E)All of the above are correct.

Question

A supply curve can be thought of as
A)a graphical display of "market potential." 
B)a graphical representation of the information in a supply schedule.
C)showing the maximum quantities that firms are able to produce.
D)a forecasting tool.
E)All of the above are correct.

Quizplus · Accepted Answer

A supply curve is a graphical representation of the information in a supply schedule, which shows the various quantities of a good or service that producers are willing to supply at different price levels. Option A describes a demand curve, while Option C is partially correct as the supply curve shows the maximum quantities that firms are willing and able to produce at each price level, and Option D is not applicable as the supply curve does not forecast future events.

A Supply Curve Can Be Thought of as