The market supply curve:
A) Slopes up due to diminishing marginal returns
B) Slopes up due to the Law of Supply
C) Slopes up due to economies of scale
D) Slopes up due to scarcity
Correct Answer:
Verified
Q17: an individual firm will supply goods until:
A)
Q18: An individual firm supply curve equals:
A) AVC
Q19: An individual firm's supply curve equals:
A) MR
Q20: If the price is below minimum AVC,
Q21: The market supply curve is:
A) The horizontal
Q23: a supply schedule shows:
A) How quantity supplied
Q24: The Law of Supply is due to:
A)
Q25: In the supply equation:
A) The price is
Q26: Economists draw supply curves "backward" due to:
A)
Q27: The elasticity of supply:
A) Decreases over time
B)
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