What does the supply curve for a product reflect
A)the cost to suppliers of an externality
B)the quantity buyers will ultimately purchase of the product
C)the cost to sellers of producing the product
D)the seller's profit from producing the product

Question

Quizplus · Accepted Answer

The supply curve for a product reflects the cost to sellers of producing the product. It shows the quantity of the product that suppliers are willing to sell at different prices, based on the cost of producing that quantity. As the price of the product increases, suppliers are willing to produce and sell more of it, but at some point, the cost of producing each additional unit becomes too high and suppliers are no longer willing to produce more. Therefore, the supply curve shows the relationship between the quantity of a product supplied and the price of that product, based on the cost of producing it.

What Does the Supply Curve for a Product Reflect