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

Question

Quizplus · Accepted Answer

The supply curve is based on the data in a supply schedule, which shows the quantities that firms are willing and able to produce at different prices. It is not a forecasting tool or a measure of market potential, although it can provide information about market conditions and potential profitability.

The Supply Curve for a Good Can Be Thought of as